I’m dedicated to providing you with the latest insights and statistics on the local real estate market. In this month’s report the key figures and trends for May 2023 are presented. Based on data from our Multiple Listing Service (MLS), I have compiled information on pending sales, sold properties, median and average prices, as well as the number of active listings during this period. Let’s dive into the details.
Pending Sales and Sold Properties:
During the month of May 2023, there were 875 pending sales, indicating a strong level of buyer interest in the market. Additionally, a total of 803 properties were sold, demonstrating a healthy level of real estate activity. These figures are a testament to the ongoing demand for homes in our area.
Median and Average Prices:
While specific median list price data is unavailable for this time frame, the median sold price for May 2023 stood at $284,327. This represents the midpoint of all the properties sold during the month. Moreover, the average sold price was $312,772, reflecting the average price of the properties that changed hands. These price points provide valuable information for both buyers and sellers to gauge the market value of properties in the area.
Days on Market:
The average number of days it took for a property to sell in May 2023 was 111. This metric, known as the average days on market, gives insight into the pace at which properties are being bought. It is crucial for sellers to consider this factor when pricing and marketing their homes, as it can influence the time it takes to secure a buyer.
As of May 1, 2023, there were 1,559 active listings in our area. These listings represent the number of properties available for sale during the entire month of May. Having a substantial inventory of active listings provides buyers with more choices and potentially leads to a more competitive market.
The real estate market in our area showed promising signs in May 2023. With a healthy number of pending sales and properties sold, it is evident that demand remains robust. Although specific median list price data is unavailable, the median sold price and average sold price provide a snapshot of the market’s pricing trends. Sellers should take note of the average days on market to make informed decisions about pricing and marketing strategies. Lastly, the substantial number of active listings reflects a diverse inventory for buyers to explore.
For a more comprehensive understanding of the local market and to receive personalized advice, please do not hesitate to contact me. I possess the knowledge and expertise to guide you through the buying or selling process successfully. Contact me today to learn more about the latest real estate opportunities in our area.