Market Trends Overview
- Strong Seller’s Market: Inventory is limited, but homes still take longer to sell.
- High Buyer Selectivity: Buyers in this price range take their time, leading to longer days on market.
- Prices Holding Steady: Homes sell close to listing price, indicating strong demand for premium homes.
Past 12 Months Trends
- Listings: An average of 0.24 new listings per day, totaling 89 listings for the year.
- Sales: 0.15 homes sold per day, with 56 total sales over 12 months.
- Pricing:
- Average listing price: $943,725
- Median listing price: $925,000
- Final sale prices averaged $911,877, with a median of $897,000.
- Days on Market: Homes took an average of 82 days to sell, with a median of 56 days.
- Buyer-Seller Scores:
- Buyer Score: 4.8 (buyers have moderate power)
- Seller Score: 5.2 (balanced market)
Key Insight:
While prices remain stable, homes sit longer on the market, making buyer negotiation more common.
Year-to-Date (YTD) 2025
- Listings: 19 new homes have entered the market, averaging 0.6 per day.
- Sales: 14 homes sold, with 0.5 sales per day.
- Pricing:
- Average listing price: $913,237
- Median listing price: $895,000
- Final sale prices: Averaged $908,084, median $889,900.
- Days on Market: Homes sold in an average of 21 days, with a median of 12 days.
- Buyer-Seller Scores:
- Buyer Score: 1.8 (limited buyer power)
- Seller Score: 8.2 (strong seller market)
Key Insight:
Homes are selling much faster in 2025 compared to the past year, showing renewed demand.
February 2025 (Last Full Month)
- Listings: 8 new homes hit the market (0.3 per day).
- Sales: 8 homes sold (0.3 per day).
- Pricing:
- Average listing price: $899,088
- Median listing price: $894,900
- Final sale prices: Averaged $906,925, median $888,450.
- Days on Market: Homes sold in an average of 34 days, with a median of 12 days.
- Buyer-Seller Scores:
- Buyer Score: 0 (strong seller market)
- Seller Score: 10 (extremely seller-favored)
Key Insight:
In February, sellers had complete control, and homes moved quickly for this price range.
March 2025 (Current Month)
- Listings: 1 new home listed so far.
- Sales: No homes sold yet.
- Pricing:
- Average listing price: $895,000
- Median listing price: $895,000
- Final sale prices: No sales yet this month.
- Days on Market: 5 days average, median 5 days.
- Buyer-Seller Scores:
- Buyer Score: 3.3 (more balanced)
- Seller Score: 6.7 (still favors sellers)
Key Insight:
March has started slower, but homes continue to see strong demand.
Final Thoughts
- Sellers: Expect some negotiation but strong demand means homes sell near asking price.
- Buyers: You have slightly more leverage than in lower price tiers, but competition remains strong.
Thinking about buying or selling? Let’s connect today!