Average Sales Price Up, while Closed Sales Goes Down Average sales prices in the Park Circle neighborhood continue to rise year over year, but inventory and the total number of homes for sale are creeping back up creating a more balanced market. We're not quite there yet, but judging by the reduction in total closed sales, we are starting to see buyer demand slow down. High interest rates...
Park Circle Real Estate Market Updates
Home Prices are Falling from All-Time HighsHome prices continue to fall from all-time highs but rising interest rates have made it difficult for some buyers to purchase, in particular, first-time homebuyers, who have felt the squeeze when looking for properties in this market.Other buyers have simply stopped looking and are hoping for a crash, but it is likely that the market is headed for a correction...
Park Circle Home Sales Fall Slightly, but Prices Continue to Climb 29 homes sold in the month of April in Park Circle at a median price of $421,500. Inventory data shows 46.3% fewer homes, with 22 homes listed as “active” for sale in the CHS Regional MLS database at the end of the month for Park Circle —representing just 0.80 of a month's available inventory. “It’s important to remember...
Housing inventory remains tight despite a noticeable uptick of homes on the market, but prices continue to remain high and are in no danger of declining just yet. What will change, is how quickly a home appreciates in value as we move towards the end of the year. Last month we looked at the year over year stats, but this month let's take a look at the market stats in Park Circle and the entire MLS...
Summer is in full swing and the Real Estate market is still red hot with very few signs of cooling. Prices continue to soar, but lumber prices are thankfully starting to come back down. Unfortunately, due to Covid-related restrictions, the cost of paint is going up due to limited supply. This is bad news for those still looking to freshen up their home with a pop of color.Let's take a look at the market...
The month of May saw the following trends continue: Inventory remains low and demand remains strongLimited supply = record-high home pricesLumber prices, supply and demand, migration from northern cities to warmer climates, low interest rates. It's all combining to create a real estate market that is short on available housing and increased competition for properties that are on the market. Let's take...