March 2025 Market Update – MPCPHH
What’s Really Happening in McFerrin Park, Cleveland Park & Highland Heights Real Estate?
If you’re keeping an eye on the local housing market, you may have noticed things shifting — and you’re not wrong. March brought some meaningful updates for McFerrin Park, Cleveland Park, and Highland Heights (MPCPHH), and whether you’re buying, selling, or just curious, here’s what you need to know:
Prices Are Down, But Opportunity Is Up
The average sale price in our area came in at $611,325, down from $686,747 this time last year — an 11% decrease. Median sale price dropped as well, down 9% to $544,500. For buyers, this could mean more room to negotiate and a chance to enter the market at a more reasonable price point.
For sellers, yes — the market has cooled slightly, but homes are still selling. You’ll just need a smart pricing strategy and patience, as homes are sitting on the market a bit longer.
Inventory Is Growing
Active inventory is up 17%, and total listings grew 7% year over year. That means more options for buyers and a bit more competition for sellers. The average list price for active homes is actually up 2%, sitting at $703,045.
Timing Has Shifted
The average days on market rose to 48 days, a 20% increase from last year. And the average time from contract to close is now 37 days, a massive 74% drop — so while homes may take longer to get under contract, they’re closing much faster once they’re pending.
Market Balance Is Back
Months of supply hit 4.74, up nearly 20%. That’s a sign of a more balanced market — not overly tilted toward buyers or sellers.
So What Does This Mean for You?
- Thinking of selling? You’ll want to get ahead of pricing trends and prep your home to stand out — professional photos, thoughtful staging, and a strong digital presence are key.
- Buying? You’ve got more choices and less pressure, but don’t wait too long if you see a great home. Inventory is still relatively low in the big picture.
- Just curious? Now’s a great time to get a home valuation or chat through your options for later in the year.
Want to know how this data impacts your specific situation? Let’s talk! Whether you’re planning a move now or just exploring ideas, I’m here to help you make sense of the numbers.
Proudly serving as a neighbor and Realtor in McFerrin Park, Cleveland Park, and Highland Heights.
Source: Realtracs, March 2025 data
