As of November 2024 Year to Date (YTD), the Badger Mountain South real estate market in Richland showcases key trends that matter for buyers and sellers of existing single-family homes. This analysis reviews market speed, pricing, inventory levels, and home characteristics, offering a detailed overview of opportunities in this unique market.
Market Summary
| Metric | Total Listings | Sold Listings |
|---|---|---|
| Total Count | 38 | 24 |
| Average Price | $597,246 | $568,527 |
| Median Price | $577,450 | $555,000 |
| Average Days on Market | 90 | 88 |
| Average Price/Sq. Ft. | $257.48 | $249.61 |
Key Insights
- Market Movement: The market is relatively slow, with homes taking 88 days on average to sell. Listings appear at a rate of only 0.12 per day.
- Inventory Trends: Shrinking inventory as sold listings (24) lag behind new listings (38), creating moderate competition.
- Price Trends: The average sold price of $568,527 is closely aligned with adjusted total listing prices, reflecting realistic seller expectations.
- Home Sizes: Buyers favor slightly larger homes, with sold properties averaging 2,300 sq. ft., compared to the total listing average of 2,279 sq. ft.
- Price Per Square Foot: Sold listings average $249.61 per square foot, slightly lower than the total listing average of $257.48, showing negotiation opportunities for buyers.
Buyer and Seller Scores
| Category | Score (1-10) |
|---|---|
| Buyer Score | 5.6 |
| Seller Score | 7.4 |
My Conclusion
The Badger Mountain South neighborhood offers unique opportunities for buyers and sellers in November of 2024. Buyers face limited inventory but can benefit from modest price negotiations and slower market movement. Sellers enjoy stable pricing and slightly shrinking inventory, creating favorable conditions for achieving their goals. For expert guidance, contact the Kenmore Team today. Take advantage of tailored programs like our Instant Offer Program or Guaranteed Sale Program to meet your real estate objectives.