January Real Estate Data, for SaddleBrooke, by Lynn Slaten, Long Realty

VIA LYNN SLATEN, LONG REALTY | February 9, 2023

The statistics that follow highlight current key market indicators for SaddleBrooke. This data is based on homes that sold and were for sale during the month of January, 2023.

For January, 2023, there were 10 homes sold, compared to the 16 that were sold in December, 2022 (-37%.) In January, 2022, there were 23 homes sold, so 57% fewer than last year.

-The median sales price for January, 2023 was $561,605, compared to $510,000 in December, 2022 (+ 10%.) $542,000 was the median sales price in January, 2022 (+4%.)

-The sales price to list price was 96% in January, 2023, down 2% from December, 2022.

-The numbers of homes sold year-to-date at the end of January, 2023 was 10.

–There are currently 51 homes for sale. The median list price is $534,000. Average days on market is 46.

-There are currently 41 homes under contract. Only 10% of those sold over the original asking price.

-There is currently 3.1 months of inventory, which represents Seller’s market in the $350K to $450K price range, a Balanced market in the $450K to $500K price range, a Buyer’s market in the $500 to $550K range, and another Seller’s market for all homes listed above $550K.

SaddleBrooke’s traditional “high” buying season typically begins mid to late January. And at this time, we are right on track! Agents are reporting that their Open Houses are being well attended, mostly by folks from states with cold climates. Lots of potential Buyers this year from the usual states of Minnesota, Wisconsin, Michigan……and this year from Montana too. Lower listing prices, plus mortgage rates in the low 6’s, or even lower in some cases, depending on the loan type, is helping to spur buyer interest. It’s early yet, but it’s nice to see some life out there again!