October Real Estate data-market is slowing for sellers! Lynn Slaten, Long Realty

CONTRIBUTED BY LYNN SLATEN MILLION DOLLAR AGENT AT LONG REALTY| November, 12th, 2023

For October, 2023, there were only 13 homes sold, compared to 22 that were sold in September, 2023 (-41%.) In October, 2022, there were 18 homes sold (-28%.) 

• The median sales price for October, 2023 was $509,000, compared to $495,000 in September, 2023 (+3%). In October, 2022, the median sales price was $551,500 (-8%.)
• The list price to sales price in October, 2023 was 98%, same as September, 2023. In October, 2022, the list price to sales price was 99%.   
  
• The numbers of homes sold year-to-date at the end of October, 2023 was 219, compared to 206 at the end of September, 2023 (+6%). At the end of October, 2022, 265 homes had been sold (-17%.)
• There are currently 76 homes on the market. The median list price is $525,000. Average days on market increased to 44.
• There are currently 33 homes under contract. Only 8% of those sold over the original asking price.

 There is currently 5.8 months of inventory, which overall represents Sellers’ market. However, this inventory is considerably more diverse than previously reported during 2023 as follows:

• Sales From $300K to $400K  = Buyers Market
• Sales From $400K to $500K = Balanced Market
• Sales From $500K to $600K = Buyers Market
• Sales From $600K to $700K = Sellers Market
• Sales in The $1M+ market are Balanced

Note: A Sellers Market represents less than 6 months of inventory.

• A Balanced Market represents 6 to 7 months of inventory.
•  A Buyers Market represents more than 7 months of inventory.

Currently here in SaddleBrooke, the numbers of listings are increasing, as sellers ready their properties for “high season,” which begins approximately January 1^st. Conversely, the numbers of sales are down, as potential buyers traditionally concern themselves with the impending holidays during November and December.

For more information on buying or selling your home, contact Lynn at 520-240-2866 or by email ly***@lo********.com
www.soldonsaddlebrooke.com

Follow this link to see current SaddleBrooke listings:

Click to view listing(s)