February SaddleBrooke Real Estate Market Review, trends are changing…
CONTRIBUTED BYU LYNN SLAYTEN, Long Real Estate
For February, 2023, there were 21 homes sold, compared to the 16 that were sold in February, 2023 (+31%.) In February, 2022, there were 22 homes sold, so almost the same as this year.
- -The median sales price for February, 2023 was $482,500, compared to $552,105 in January, 2023 (-13%.) $465,000 was the median sales price in February, 2022 (+4%.)
- -The sales price to list price was 98% in February, 2023, up 2% from January, 2023.
- -The numbers of homes sold year-to-date at the end of February, 2023 was 37.
- -There are currently 50 homes on the market. The median list price is $552,000. Average days on market is 42.
- -There are currently 46 homes under contract. Only 14% of those sold over the original asking price.
- -There is currently 2.3 months of inventory, which represents Seller’s market in all price ranges from $300K to over $1M.
SaddleBrooke’s traditional “high” buying season is in “full swing.” And at this time, we are right on track! Agents are reporting their Open Houses are being well attended. I had 17 couples through my open house yesterday, and they were from all over the US……..from Montana to Missouri! Also, many folks, who attended, currently live here in SaddleBrooke and are looking to downsize or upsize!
Mortgage rates continued to tick-up last week, but do not appear to have further suppressed buyers putting listings under contract. It will be interesting to see if the Feds increase the rates in the weeks to come!
