Avalon and Stone Harbor Housing Market – September 2024 Overview
Units Sold: 23
Active Inventory: 159
Median Sale Price: $2,823,000
Days on Market: 131
Market Trends
Units Sold: September saw 23 homes sold, which is a decrease from the same month last year.
Active Inventory: Up 28% from last year, with 159 homes available compared to 124 in September 2023. This marks a slight decrease from last month’s 162 homes.
Median Sale Price: Increased by $593,000 from last year ($2,230,000 in September 2023 to $2,823,000 in September 2024).
New Listings & Contracts
New Listings: 29 homes listed, down 9% from last year.
Current Contracts: 12 contracts pending, a 43% decrease from 21 last September.
Market Supply
Months of Supply: Increased to 6.9 months from 5.2 in September 2023, indicating a shift toward a more balanced market.
Sale Price vs. List Price
Homes sold for an average of 97.3% of their list price, slightly up from the previous year.
Days on Market
Average days on market rose to 131, compared to 120 last year.
Summary
While the Avalon and Stone Harbor market shows a higher inventory and an increase in median sale prices, the number of units sold and current contracts indicates a cooling trend in buyer activity compared to last year.