Though the typical Spring market boom was a bit delayed this year – I am happy to report that the real estate market is in full swing!
In our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights we saw an average sales price increase to 390K for the month of May. The total number of properties closed was up one ( to 16) and the median list price per square foot was up to $229/foot.
If you are looking to list your home, price it well and start packing.
You should expect a quick contract as our median days on market were a short 6 days. Homes are also contracting very close to list price ( 96.35%).
Currently, there are 31 active properties (options to purchase) and 47 homes pending (awaiting closing) on the multiple listing service.
If history serves, I expect this upward trend to continue for the month of June and throughout the summer.
Inventory is low, interest rates are low, and prices are steady. If you would like to discuss the current value of your home or know of someone who is looking to purchase – I would love to talk with them!
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.