September Real Estate by Lynn Slaten-Long Realty

VIA Lynn Slaten, Long Real Estate | October 23

Hello Again,

The stats below highlight key market indicators for SaddleBrooke. Most data is based on homes that sold and were for sale during the month of September, 2022.

-For September, 2022, there were 22 homes sold, compared to 16 in August (+38%.) 25 sold during September, 2021.
-The median sales price for September, 2022 was $542,500, compared to $516,600 in August (+5%.) $460,000 was median sales in September, 2021.
-The list price to sales price dropped to 97%, small drop of 1% from August, 2022.
-The numbers of homes sold year-to-date at the end of September, 2022 was 242, which represents an 18% drop from the 294 homes sold last September.
-There are currently 44 homes for sale. The median list price is $520,000. Average days on market is 46.
-There are currently 25 homes under contract. Only 9% of those sold over the original asking price.
-There is currently 1.9 months of inventory, so it continues to be a Seller’s market.

So, what are my projections……hard to say, as there are so many potential issues. Some Buyers may be waiting until after the mid-term elections to make a decision. Of course, the 6%+ interest rates are a negative factor, although many SaddleBrooke Buyers pay cash. Most investment portfolios have declined significantly this year, which negates buying power. Traditional Buyers from states like California and Washington are now experiencing difficulties selling their homes, especially for what those homes sold for earlier this year. From my perspective, current Buyer confidence has somewhat waned.

Traditionally, this is a slow time of year for Buyers anyway. However, many Sellers use this time ready to their homes for sale in January. Additionally, recent open houses have been slower