March 2024 Market Report 95821

The real estate market is currently experiencing a low inventory situation, with only 0.72 months supply of homes available. This means that there are fewer homes for sale compared to the number of buyers looking to purchase a property.

Over the past 12 months, there has been a 4.35% increase in the months of inventory, indicating a slight trend towards more homes becoming available on the market. This could potentially provide buyers with more options to choose from in the coming months.

Homes in this market are selling relatively quickly, with a median of only 21 days on the market before being sold. This suggests a high demand for housing in this area, leading to a fast turnover of available properties.

Sellers in this market are also seeing strong returns on their investments, with homes selling for an average of 102.1% of their list price. This indicates that buyers are willing to pay above asking price to secure a property in this competitive market.

The median sold price for homes in this market is $485,000, reflecting the overall value of properties in the area. This data suggests that both buyers and sellers can expect a dynamic and competitive real estate market, with opportunities for both parties to benefit from current market conditions.