The numbers are in for April and the real estate market in our combined neighborhoods of McFerrin Park, Cleveland Park, & Highland Heights is stronger than ever. We saw a total of 21 properties close out last month at an average sales price of $620,810. The median list price per square foot was 307 sqft with a median sales price per foot checking in at 323 sqft. This means that properties are STILL selling for more than the list price in most cases. That is further supported by the list price to sales price ratio that stood at 104.65% last month.
We have 10 active properties in our combined neighborhoods of McFerrin Park, Cleveland Park, and Highland Heights – a notable 159% DECREASE in housing inventory from this same month last year.
Mortgage rates have sharply increased during the previous two months, but we have not seen a significant impact from this in our neighborhoods. Check back in next month for more nerdy real estate facts!
-Nick Irwin, Realtor
I have several listings that are not yet on the MLS in our neighborhood. If you are looking to make a move OR if you want the chance to choose your neighbor – call me!
The housing market is changing. If you have been considering selling your home but aren’t sure what it is worth in today’s market, click here and get a free personalized report on the current market value of your home.