February Real Estate Update from Lynn Slaten, Long Realty

The statistics below highlight current key market indicators for SaddleBrooke. This data is based on homes that sold and were for sale during the month of February, 2025.

For February, 2025, there were 33 homes sold, compared to 26 that were sold in January, 2025 (+27%) In February, 2024, there were 21 homes sold.

 -The median sales price for February, 2025 was $489,500, compared to $487,500 in January, 2025.  In February, 2024, the median sales price was also $440,000.

 -The median list price in February, 2025 was $499,000, compared to $499,500 in January, 2025 (-0%.)  In February, 2024, the median list price was $459,000.

 -The list price to sales price in February, 2025 was 97%, compared to January, 2025 at 98%. In February, 2024, the list price to sales price was also 98%. 

 -The numbers of homes sold year-to-date at the end of February, 2025 was 59, compared to 40 that sold during by the end of February, 2024.

 -There are currently 122 homes on the market. The median list price is $499,725. Average days on market is 58. The least expensive property is priced at $319,900 and the most expensive one is listed at $1,498,000.

 -There are currently 50 homes under contract. None of those sold over the original asking price.

 -There is currently 3.7 months of inventory, which represents a Sellers Market, as follows:  

• Sales From $300K to $400K = Seller’s Market
• Sales From $400K to $500K = Seller’s Market
• Sales From $500K to $600K = Balanced Market
• Sales From $600K to $700K = Seller’s Market
• Sales From $700K to $800K = Seller’s Market
• Sales From $800K to $900K = Insufficient Data to Report
• Sales From $900K to $1M    = Insufficient Data to Report
• Sales in The $1M+ market = Balanced Market

Note: A Sellers Market represents less than 4 months of inventory.

          A Balanced Market represents 4 to 6 months of inventory.

          A Buyers Market represents more than 6 months of inventory.

          Buyers Market = More people selling homes than buying

          Sellers Market = More people buying homes than selling

In our current marketplace (3.7 Months of Inventory = i.e., Seller’s Market)

 As of January, 2025, our SaddleBrooke marketplace entered its traditional “high season.”

Currently, 2025 is on track to have the highest percentage of listings with price adjustments in the past 4 years. In 2022, the rapid mid-year interest rate hikes left many sellers navigating a market that shifted significantly from when they first listed their homes. In contrast, 2023 and 2024 saw a more stable pattern of price adjustments throughout the year. However, 2025 has started with a sharp upward trajectory in price drops, with no signs yet of the typical seasonal plateau. This trend isn’t necessarily a cause for concern but rather reflects a return to a more traditional list-to sales price ratio.

Nationwide, Fannie Mae industry analysts are saying prices are projected to keep rising through at least 2029. While we’re no longer seeing the steep spikes of previous years, experts project a steady and sustainable increase of around 3-4% per year, nationally. And the good is, this is a much more normal pace – a welcome sign for hopeful buyers!

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