Hey neighbors!
Nick Irwin here checking in with the 2021 market statistics for November 2021 for our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights! For the month of November, we had 28 closed properties, which is up by five from the previous month (October). Our median list price per square foot was at $299 and the median sales price per foot checked in at $297.
The median days on market is 4 days, which means homes are still selling quickly, with 38 days between contracting and actually closing out in the MLS. The average sales price to list price ratio and checks in at 101.51% again meaning that properties are selling over the asking price on average.
The most surprising statistic for the previous month was that there are currently only two active properties for sale in Cleveland Park McFerrin Park and Highland Heights with 34 pending properties.
The two active properties are representative of a lack of inventory in our neighborhoods, which I’ve been talking about for a while, but just for comparison, at the same time last year there were 22 available properties for purchase so this year shows a significant decrease. Last but not least, everyone’s favorite number, our average sales price is $484,737.
So once again, this is an incredible time to sell your home. If you’re curious about the value of your home, please feel free to reach out as I run numbers on our neighborhoods frequently and I’d love to help my neighbors stay informed.
See you next month!
