April 2025 Market Update – MPCPHH
April Showers Bring…Higher Home Prices!
Spring is officially heating up — and not just the weather. Our local real estate market in McFerrin Park, Cleveland Park, and Highland Heights (MPCPHH) had a busy April, and the numbers tell an interesting story.
Home Prices Surging
The average sale price jumped 19% year-over-year, reaching $632,818. That’s a big leap compared to $533,962 in April 2024. Even the median price surged to $622,200, up 40%! If you’re a seller, this is a strong signal that demand is alive and well in our neighborhoods.
Inventory Is Up
Active inventory grew 16%, giving buyers more options this spring. Total inventory also rose by 11%, so while competition is healthy, buyers have more breathing room compared to a year ago.
Homes Are Sitting Longer
The average days on market doubled from 15 days last year to 31 days this year — a 115% increase. This signals a more normalized, less frenzied market. Sellers: pricing and presentation are more important than ever.
Competition Is Still Out There
Closings were up 31% year-over-year, showing buyers are active and serious. However, the list-to-contract timeframe increased sharply, now averaging 350 days — likely an anomaly needing further tracking next month.
More Balance Ahead
Months of supply dropped slightly to 4.88 months, reflecting a moderately balanced market — neither fully a buyer’s nor a seller’s market.
What This Means for You
- Selling soon? Leverage strong prices but expect it to take a little longer to find the right buyer.
- Buying soon? There’s more inventory to choose from, but waiting could cost you if prices continue to climb.
- Just curious? Now’s a great time to get a valuation or strategy call in place for summer or fall moves.
If you’re thinking about making a move or just want to stay informed, let’s chat! I’m happy to share what these numbers mean for you specifically.
Proudly serving as a neighbor and Realtor in McFerrin Park, Cleveland Park, and Highland Heights.
Source: Realtracs, April 2025 data
