Along with the temperature, the real estate market heated up for our neighborhoods in May! Twenty-Five total properties closed in the last month in comparison to only Twelve for month of April. While this is a significant increase in closed properties, it was expected for the season. Contributing to this upswing, we saw a bit of new construction inventory finally hit the market and close during this past month. The median list price and sales price per square foot were $199 and $201 respectively still holding strong. The median contract to close days is a quick 29 days and properties are selling at 98.66% of the listing price – indicating a strong sellers market for our neighborhoods.
The average sales price was up significantly to $317,300 for the month of May.
If you know someone who is looking to move into the neighborhood there are 54 available properties at the time of this post in the combined neighborhoods of McFerrin Park, Cleveland Park and Highland Heights and the current upswing continues, June should be a fantastic month for real estate in our neighborhoods.
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.