Avalon and Stone Harbor Housing Market Update – November 2024
As we near the end of 2024, the Avalon and Stone Harbor real estate markets continue to evolve. While some metrics show fluctuations, the overall market remains active and offers opportunities for both buyers and sellers. Let’s dive into the numbers and trends that are shaping this popular coastal market.
Units Sold: A Slight Decline, but a Year-over-Year Increase
In November 2024, 22 homes were sold in Avalon and Stone Harbor. This is a 4% decrease from the previous month, but an impressive 29% increase compared to the same time last year. This year-over-year boost suggests strong buyer interest despite the slight dip in monthly sales.
You can stay updated on the number of homes sold in real time by visiting our market statistics page.
Active Inventory: An Increase in Supply
The number of available homes on the market has risen in recent months. There are currently 138 active listings in Avalon and Stone Harbor, which is a 14% increase compared to November 2023 (121 homes). However, this is slightly lower than last month’s inventory of 142 homes, showing a slight reduction in supply.
Interested in seeing what’s available? Check out the latest homes for sale in Avalon and Stone Harbor.
Median Sale Price: A Significant Decrease
One of the most noticeable shifts this month is the median sale price, which dropped by $1,214,005 from last November. In 2023, the median price was $3,595,000, while this November, it stands at $2,380,995. This dramatic decrease may be attributed to the smaller volume of high-end properties sold this month.
For more insights on pricing trends, check out our real estate market report.
New Listings and Current Contracts: Market Activity
November saw 22 new listings, a 16% increase compared to the 19 listings in November 2023. However, the number of current contracts is slightly down, with only 9 homes under contract, a 10% decrease compared to last year’s 10.
Want to know more about new listings in the area? Visit our new listings page.
Months of Supply: A Decrease in Supply Duration
This month, the months of supply in Avalon and Stone Harbor was 6.3 months, which is 12% lower than the 7.1 months of supply seen in November 2023. A lower number of months of supply generally signals stronger demand in the market.
If you’re interested in how supply impacts your buying or selling decisions, explore our detailed market analysis.
Sale Price to List Price Ratio: Consistent Seller Confidence
The sale price to list price ratio in November was 95.9%, which is nearly the same as the previous year’s ratio of 95.42%. Homes in Avalon and Stone Harbor continue to sell close to their listing prices, reflecting strong seller confidence in the market.
To better understand how this metric affects your transaction, visit our buying and selling tips.
Days on Market: A Decrease in Selling Time
Homes in Avalon and Stone Harbor are selling 16% faster than last year. The average days on market in November was 151, down from 180 in November 2023. This decrease shows a quicker pace in the market compared to last year, despite the overall slight reduction in home sales.
For a deeper dive into the factors affecting days on market, explore our detailed housing trends.