Market Trends Overview
- Seller’s Market: Limited inventory continues to favor sellers.
- Longer Sales Timeline: Homes in this range take longer to sell compared to lower price brackets.
- Stable Prices: Listing and final sale prices remain close, showing strong buyer demand despite longer selling times.
Past 12 Months Trends
- Listings: An average of 0.5 new listings per day, totaling 184 listings for the year.
- Sales: 0.36 homes sold per day, with 133 total sales over 12 months.
- Pricing:
- Average listing price: $719,589
- Median listing price: $719,000
- Final sale prices averaged $699,438, with a median of $699,900.
- Days on Market: Homes took an average of 68 days to sell, with a median of 39 days.
- Buyer-Seller Scores:
- Buyer Score: 2.6 (limited buyer power)
- Seller Score: 7.4 (still a strong seller’s market)
Key Insight:
While homes take longer to sell, prices remain firm, indicating a steady level of demand.
Year-to-Date (YTD) 2025
- Listings: 33 new homes have entered the market, averaging 1.1 per day.
- Sales: 15 homes sold, with 1.0 sales per day.
- Pricing:
- Average listing price: $710,042
- Median listing price: $700,000
- Final sale prices: Averaged $705,694, median $699,900.
- Days on Market: Homes sold in an average of 32 days, with a median of 13 days.
- Buyer-Seller Scores:
- Buyer Score: 3.5 (buyers have more leverage than in lower price tiers)
- Seller Score: 6.5 (still favors sellers, but more balanced than lower ranges)
Key Insight:
Compared to last year, homes in this range are selling faster, but buyers have slightly more negotiating power.
February 2025 (Last Full Month)
- Listings: 17 new homes hit the market (0.6 per day).
- Sales: 7 homes sold (0.25 per day).
- Pricing:
- Average listing price: $708,582
- Median listing price: $699,900
- Final sale prices: Averaged $708,141, median $699,900.
- Days on Market: Homes sold in an average of 31 days, with a median of 10 days.
- Buyer-Seller Scores:
- Buyer Score: 2.7 (slightly more balanced)
- Seller Score: 7.3 (still seller-favored)
Key Insight:
The market is steady, with quick-moving homes, but buyers are taking their time on higher-end properties.
March 2025 (Current Month)
- Listings: 3 new homes listed so far.
- Sales: 1 home sold.
- Pricing:
- Average listing price: $706,600
- Median listing price: $690,000
- Final sale prices: Averaged $730,000, median $730,000.
- Days on Market: 1 day average, median 1 day.
- Buyer-Seller Scores:
- Buyer Score: 4.1 (better for buyers)
- Seller Score: 5.9 (more balanced than before)
Key Insight:
March has started with quick sales, but fewer homes have sold so far.
Final Thoughts
- Sellers: The market still favors you, but expect longer selling times than in lower price tiers.
- Buyers: There’s slightly more room for negotiation, but homes priced well still move fast.
Thinking about buying or selling? Let’s connect today!