2018 was a great year for our neighborhood, and I am working on compiling all of the data for a comprehensive review. But first, lets take a look at the final month of 2018. In December, the total number of closings was down to a yearly low of 12 total closings. We also saw this number in April.
Median list price and sales price per foot are holding steady at 203 and 204/foot respectively. Median days on market has edged up to 26 and the sales price to list price percentage has dropped to 95%. This means if you were a home seller in December, your property was on the market slightly longer than the rest of the year and there was more room for buyer negotiations. Headed into 2019, we can expect an increase in inventory AND if interest rates hold steady, I believe we will see a sharp uptick in the market around February/March.
In development news, Red Headed Stranger is planning to open sometime this year at the corner of Meridian and Arrington, I am excited for this addition to area. If you are looking to buy or sell in McFerrin Park, Cleveland Park or Highland Heights – give me a call!
I have several listings that are not yet on the MLS in our neighborhood. If you are looking to make a move OR if you want the chance to choose your neighbor – call me!
The housing market is changing. If you have been considering selling your home but aren’t sure what it is worth in today’s market, click here and get a free personalized report on the current market value of your home.