Inventory is low, prices are higher than ever!
For the month of January, our combined neighborhoods of McFerrin Park, Cleveland Park, & Highland Heights saw only 3 properties close. This is a reflection of the limited inventory – currently, there are only 7 active properties for purchase. For comparison and context, In January 2021 we saw 16 properties close with 13 actives
Our median list price per foot was $378 with the median sales price per foot at $349. The contract to close was a quick 25 days (indicating most deals are cash or limited financing).
Our average sales price for the month was $348,467. Remember that there were only 3 closings – so that significantly skews this number.
Thanks for staying up to date with everything in the neighborhood, and as always, if you are curious about your home’s value please don’t hesitate to reach out!
See you next month!
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.