January Real Estate Numbers, from Lynn Slaten Long Realty

CONTIBUTED BY LYNN SLATEN TOP PRODUCER AT LONG REALTY| February 8th, 2025

For January, 2025, there were 26 homes sold, compared to 16 that were sold in December, 2024 (+63%) In January, 2024, there were 19 homes sold.

The median sales price for January, 2025 was $487,500, compared to $542,000 in December, 2024 (-10%). In January, 2024, the median sales price was also $487,500.
The median list price in January, 2025 was $499,500, compared to $554,000 in December, 2024 (-10%.) In January, 2024, the median list price was $500,000.
The list price to sales price in January, 2025 was 98%, compared to December, 2024 at 97%. In January, 2024, the list price to sales price was also 98%.
The numbers of homes sold year-to-date at the end of January, 2025 was 26, compared to 307 that sold during all of 2024.
There are currently 120 homes on the market. The median list price is $519,000. Average days on market is 51. The least expensive property is priced at $315,000 and the most expensive one is listed at $1,699,000.
There are currently 51 homes under contract. 15% of those sold over the original asking price.

There is currently 4.6 months of inventory, which represents a Balanced Market, as follows:

Sales From $300K to $400K = Balanced Market

Sales From $400K to $500K = Balanced Market

Sales From $500K to $600K = Buyer’s Market

Sales From $600K to $700K = Balanced Market

Sales From $700K to $800K = Seller’s Market

Sales From $800K to $900K = Balanced Market

Sales From $900K to $1M = Insufficient Data to Report

Sales in The $1M+ market = Insufficient Data to Report

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 (4.6 Months of Inventory = i.e., Balanced Market)

The impact of a Seller’s Market on Buyers is:

-Fewer Homes from which to Choose.

-Less Negotiating Power.

-Needs To Be Able To Close More Quickly.

-Could Spend More Than the Asking Price.

-Competition From Other Buyers.

The impact of a Seller’s Market on Sellers is:

-Home Sells More Quickly.

-Multiple Offers More Likely.

-Could Get More Than the Asking Price.

-Buyers Willing to Overlook Repairs

The impact of a Buyer’s Market on Buyers is:

-More Homes to Choose From.

-More Negotiating Power.

-Could Spend Less Than Asking Price.

-Price Restrictions.

The impact of a Buyer’s Market on Sellers is:

-Takes More Time to Sell.

-Fewer Offers Received.

-Could Get Lower Than Asking Price.

-May Have to Make Repairs and/or Concessions

As of January, 2025, our marketplace entered its traditional “high season.” This is caused by the numbers of winter visitors, who arrive annually at this time, to enjoy our warmer weather. Prior to returning home, usually no later than late April, many of them decide to make a home purchase. Welcome to SaddleBrooke!