McFerrin Park, Cleveland Park, and Highland Heights August Real Estate Update
Welcome to your monthly real estate update for McFerrin Park, Cleveland Park, and Highland Heights! The September market has shown some interesting trends, and we’re here to break them down for you in a simple, fun, and easy-to-understand way.
New Listings on the Rise!
This month, 39 new homes hit the market, which means buyers in the area have a growing number of options to choose from. It’s a great time for buyers who want to explore a variety of homes in these neighborhoods. If you’re thinking of selling, this could be a sign that more sellers are also seizing the opportunity – so if you’re on the fence about listing, now might be the time!
Homes Under Contract
We saw 16 homes go under contract this month. With 73 active listings, it’s clear that buyers are carefully choosing homes but are still ready to make a move when they find the right one.
Inventory Levels & Market Pace
There are 98 total homes available in the market, with 25 already under contract. Inventory remains healthy, providing a balanced market between buyers and sellers. On average, homes spent 37 days on the market before closing, meaning properties are still moving but not at a lightning-fast pace, giving buyers a bit of breathing room to make decisions.
Price Trends
When it comes to prices, we’re seeing strong numbers:
- Average Sale Price: $567,925
- Median Sale Price: $570,000
The median price point indicates that half of the homes sold for more than $570,000 and half for less. This is a solid price range, especially considering the charm and growth potential of these neighborhoods.
List Price and Sale Price – What’s the Ratio?
Homes in the area are selling for about 91% of their listing price. This means there might be some room for negotiation, but sellers are still getting a strong return on their asking prices.
What’s the Supply Like?
With a 5.18-month supply of homes, we’re in what’s called a “balanced market.” This means there are enough homes available to satisfy buyer demand without putting too much pressure on prices. For both buyers and sellers, this is a sweet spot: buyers can find options without bidding wars, and sellers can still expect strong interest in their properties.
Ready to Dive In?
Whether you’re looking to buy or sell, this market update shows that now is a great time to make your move in McFerrin Park, Cleveland Park, and Highland Heights. Reach out to learn more about how these trends could work in your favor!
Stay tuned for next month’s update to see how the fall market continues to evolve in these vibrant neighborhoods.
