Monthly Market Summary – November 2024
Source: Realtracs
In McFerrin Park, Cleveland Park, and Highland Heights, we’re wrapping up the year with strong market activity. 38 new listings hit the market this month, and 17 homes closed, showing steady interest from buyers. The average sale price was $672,840, while the median sale price came in at $615,000, maintaining a healthy price range for the area.
Active inventory averaged 78 homes, and 24 properties went under contract, reflecting continued demand in the market. The average days on market for closed homes increased slightly to 41 days, indicating homes are taking a bit longer to sell compared to last month.
Sellers are receiving competitive offers, with a list-to-contract rate of 32%, while buyers and sellers are completing transactions efficiently, averaging 61 days from contract to close. The market remains balanced with 5.53 months of supply, offering opportunities for both buyers and sellers.