Real Estate Market Trends

SouthPark Market Report - JAN 2023  SouthPark is a prestigious address that offers wonderful proximity to everything Charlotte. We have something for everyone here in this wonderful community. Read more about SouthPark neighborhoods here. Three zip codes make up the SouthPark area including 28210, 28211 and 28226. There is a small area of SouthPark (in which Barclay Downs is located) that is located in zip code 28209 (not included in this data due to skewing with the inclusion of Myers Park in the 28209 zip code). Here is the link to the Barclay Downs housing report for this month.  To pinpoint the SouthPark area by map, click the map below:   SouthPark home sales continue to reflect that our community remains a hot spot to land when moving to the Charlotte Metro area! Here are the late... 01/27/2023

Royden (SouthPark) Market Report - JAN 2023 This popular luxury neighborhood, situated in the heart of SouthPark, is approximately 2 miles from Quail Hollow Country Club, nearby Carmel Country & Myers Park Country Clubs and Cedarwood Golf Club is within close proximity as well.  Of course, if you’re into shopping and dining at fine restaurants, you will love the location, near SouthPark Mall and the mall’s surrounding fabulous restaurants.   Royden residents also enjoy the convenience of the Arboretum and it’s central location to all of Charlotte’s premier private schools.  This neighborhood boasts top-ranked public school assignments as well. How’s the market faring in popular Royden neighborhood?   The average price per square foot in Royden is $345.    Average days on the market in R... 01/27/2023

Market Report JAN 2023 - How's the Real Estate Market in Providence Springs?   Providence Springs, being a community of only 128 homes, typically does not have a large selection of homes on the market - low turnover year-after-year.  Some years, there are more relocation sellers than others and we are seeing a bit of a slow down in the relocation business this year. The economy continues to recover, as our Providence Springs market improvements continue to show.  If you're a buyer, interested in a fabulous, neighborly community on the NORTH side of Highway 51 in a great school zone, visit www.ProvidenceSpringsInfo.com for more information on this popular Charlotte luxury community.  We know that you won't be disappointed!Here are the current real estate market stats for Providence Sprin... 01/27/2023

On January 18, 2023, California Association of Realtors (C.A.R) reported the homes values declined 4.9% to the price of $818,000 in December of 2022 from price of $860,000 in November of 2022, and lower 3.8% from price of $850,000 in December of 2021 in Ventura County, California. While, homes sales gained 3.0% in December of 2022 from November of 2022, but fell 47.1% from in in December of 2021 in Ventura County, California.There were 2.3 months supplies of available inventory of homes in December of 2022, down from 3.0 months in November of 2022, but jumped from 1.1 months in December of 2021 in Ventura County, California.An average it took 39.0 days to sell home in December 2022, higher from 30.0 days in November of 2022, and rose from 22.0 days in December of 2021 in Ventura County,... 01/27/2023

Oh no, the real estate market’s shifting! Is it a “bubble” about to pop? Will prices come crashing down? How much higher will mortgage rates go? Will they come down again? Is it a buyers’ market, or are sellers still in the driver seat?All of that may sound custom tailored to the current market, but those are concerns homeowners, buyers, and agents alike all ponder on a recurring basis. The real estate market is constantly changing, and every few years it goes through a fairly significant shift.Successful agents who stand the test of time don’t rely on a “hot” market or favorable headlines about real estate. They know times can get tough, and the market is never absolutely ideal for every potential buyer, seller, or homeowner. But it’s always a good market for some people to buy or sell... 01/27/2023

Greenfield is located in Centennial, with some of this neighborhood in the City of Aurora.    It is located off Arapahoe Road & Picadilly in the South part of the Metro Denver area.   It is located in Cherry Creek School District, which is just one reason this neighborhood is popular! I like to stay on top of the statistics for the community, and nice to review the numbers every month, or at least every quarter.   Most months there are just one or two sales.   For  November, there was only one sale and in December, there was none.   For this size of the neighborhood, we don't usually see many homes go up for sale in Greenfield or Greenfield Estates.     Here are the sales for all of 2022 - 25 homes sold ranging from $509,900 to $1,000,000 (2021 had 33 sales)The average Days on Market we... 01/27/2023

What Past Recessions Tell Us About the Housing Market It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says: “Two-in-three economists are forecasting a recession in 2023 . . .” As talk about a potential recession grows, you may be wondering what a recession could mean for the housing market. Here’s a look at the historical data to show what happened in real estate during previous recessions to help prove why you shouldn’t be afraid of what a recession could mea... 01/27/2023

Are property values on Cape Cod going to fall?The obvious factors that could potentially lead to a decline in property values on Cape Cod, are:    Economic recession: IF the local economy enters a recession, it could lead to a decline in property values as fewer people will be able to afford to buy homes.    Inventory: If the number of homes for sale on Cape Cod somehow more than doubles to quickly exceed the number of buyers in the current buyer pool, that could lead to a decline in property values, because sellers would probably need to lower their expectations of value in order to attract buyers.    New regulations: Regulations such as Title 6, the new septic regulations in Massachusetts, could lead to increased costs for homeowners, which could be passed on to buyers in the form of ... 01/27/2023

Inflation seems to be a constant threat, in the news headlines and in your pocketbook. The Federal Reserve (Fed), in an attempt to curb inflation, has started to increase short-term interest rates. This doesn't mean that it won't have an effect on the economy. We will discuss how rising Fed interest rates impact home buyers and other stakeholders.Why did the Fed raise interest rates?The Federal Reserve has two main missions: to stabilize prices and to maintain moderate long-term interest rates. Inflation is a topic of hot debate if you have been following the news.  Although there are many reasons why the economy is experiencing rapid price increases, the Fed is the only one that can control them. Let's take an in-depth look at how this happened. The global pandemic is a result of three... 01/26/2023

Cureton Neighborhood in Waxhaw, NC: Real Estate Report & Community Spotlight Home sale prices "soared" in Cureton in both the Fourth Quarter 2022 and throughout 2022. For the year ended, December 31, 2022 average home sale prices increased 23%; median home sale prices increased 26%. In the Fourth Quarter 2022, average sale prices increased 41%; median home sale prices increased 58%. To the extent we saw a softening in Cureton's home sales, it was in days on market which increased year-over-year and quarter-over-quarter. In the Fourth Quarter average days on market increased from 22 to 28 days.  Cureton also saw a softening in the list to sale price ratio. For the year ended December 31, 2022, the ratio dropped 1% over the prior year. The Fourth Quarter's list to sale price ratio dropped... 01/27/2023

On January 18, 2023, California Association of Realtors (C.A.R) reported the homes values declined 0.5% to the price of $716,500 in December of 2022 from price of $720,000 in November of 2022, and lower 0.5% from price of $720,000 in December of 2021 in Los Angeles Metro Area, California. While, homes sales gained 1.9% in December of 2022 from November of 2022, but fell 49.4% from in in December of 2021 in Los Angeles Metro Area, California.There were 3.1 months supplies of available inventory of homes in December of 2022, down from 3.7 months in November of 2022, but jumped from 1.2 months in December of 2021 in Los Angeles Metro Area, California.An average it took 28.0 days to sell home in December 2022, higher from 26.0 days in November of 2022, and rose from 12.0 days in December of... 01/26/2023

- December 2022 Scottsdale Housing Market Video - Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of December. December 2022 - Video Scottsdale Active Listings We saw another year-over-year jump (117%) in listings. However, to put this in perspective, Scottsdale had incredibly low inventory levels last December. Even now, we are still seeing moderately low inventory. And the number of homes for sale fell 16% between the end of November and the end of December. Median List Price for Scottsdale Homes If you are not familiar with it, the median listing price tells you the price where 50% of the market is priced higher and 50% of the market is priced lower. The median listing price in Scottsdale in December was $1.3 million. This is up... 01/26/2023

- December 2022 Scottsdale Homes for Sale and Home Sales - Welcome to the final month of Scottsdale home sales for 2022! December tends to be a quieter month as many people move into holiday mode. And, this December was no different. SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2022 Every month, we look at the four sales metrics below to get a sense of how the market is performing. - Single-family homes for sale - Orange Line - The number of homes on the market at the end of the month. - Under contract, but accepting backup offers (UCB) - Gray Line - The number of UCB contracts at the end of the month.*- Pending home sales - Yellow Line -The number of pending sales at the end of the month.*- Home Sales - Blue Line - The number of homes that sold over the course of the month. NOVEMBER 2022 ... 01/26/2023

The current real estate market is shifting back to a more balanced market. Consumers are hearing the current market described as “returning to a normal market”. I believe a better characterization to be a more balanced market. My primary reason for saying that is that a more normal market would be one where prices would be decreasing due to increased interest rates, which is not really the case in this local market, and that there would be higher inventory creating declining pricing. With limited inventory, pricing is fairly stabilized, or in some cases increasing locally.Balance means opportunities for buyers and sellers.Buyers - Opportunity to offset costs of higher interest rates than a year ago with seller incentive opportunities.Sellers - Low inventory continues to keep prices at h... 01/26/2023

The "City of Lights", Aurora, IL currently has only 85 homes available for sale in the single family detached category!  Let's break these down:7 - New Listings (7 days on market or less)5 - Reactivated (Original contract fell apart)5 - Price Changes68 - On the MLS over 7 days.85 - TotalThe price range is:Lowest - $90,000 - 4 BR - 2 Bath with basement - Needs rehabbing and variance to stay residential or it can be torn down and becomes a commercial propertyHighest - $1,300,000 - 4 BR - 3.1 bath with basement - 3,600 sq. ft. with 4 car garage,guest house/office, in ground pool on 2 acres with 204 school district schools.Currently there are 78 listings under contract, 27 in pending status and 49 closed transactions in January, 2023.The median sales price for Aurora, in December 2022 was $... 01/26/2023

The stats are out for the month of December, and the numbers reflect the seasonal slowdown this time of year, along with interest rates bounding around.   The inventory declined 21% from last month, but increased 68% over last year.  The inventory has not moved much since the beginning of the year. This data is courtesy of Joan Cox - House to Home, Inc. I track data daily for the Denver metro area, and the amount of price reductions have dropped and homes returning to market have dropped below 200 a week.   The inventory this time of year is seasonally low, and is hovering around 4,400.  (includes land up to high-end homes) See what homes are currently available - Active Homes for sale in Denver Buyers - If you have thought about buying a home this year, rates are down a bit, but the go... 01/26/2023

Lawson Neighborhood in Waxhaw, NCReal Estate Report & Neighborhood Spotlight It was a strong showing for Lawson homes both in the Fourth Quarter 2022 and throughout 2022. Home sale prices increased year-over-year and quarter-over-quarter. To the extent the Lawson market shifted, it was in higher days on market, which increased to 31 days by the Fourth Quarter, and a lower list to sale price ratio, which was just under 100% in the Fourth Quarter.  Inventory remained tight in Lawson throughout 2022 and was down year-over-year. Just 50 homes sold in 2022 out of 600+ homes in the neighborhood. No doubt, this accounts for sale prices that increased throughout the year. In December 2022, the median sale price of a home in Lawson exceeded $700,000 on a rolling 12-month basis and set a new reco... 01/27/2023

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On January 18, 2023, California Association of Realtors (C.A.R) reported the homes values declined 0.9% to the price of $743,180 in December of 2022 from price of $750,000 in November of 2022, and lower 0.9% from price of $749,900 in December of 2021 in Southern California. While, homes sales dropped 1.7% in December of 2022 from November of 2022, and fell 48.3% from in in December of 2021 in Southern California.There were 2.9 months supplies of available inventory of homes in December of 2022, down from 3.6 months in November of 2022, but jumped from 1.2 months in December of 2021 in Southern California.An average it took 27.0 days to sell home in December 2022, higher from 24.0 days in November of 2022, and rose from 11.0 days in December of 2021 in Southern California.For complete mo... 01/26/2023

Naples Florida Real Estate Market Data For December 2022 For more information or any questions about Naples properties call Broker John 800-214-4945 or text 239-289-2336 or email john@krolgrp.com  See our website www.johnkrol.net or www.buyorsellnaplesproperties.com  01/25/2023