Although many markets around the country are tied to an academic year schedule, where families want to make a move before a new school year begins, active 55+ communities in this area are affected more by weather conditions in the north and the desire for folks to flee the cold, reduce their property taxes, and enjoy a wonderful new lifestyle.
Current interest rates may be daunting for some, especially for those on fixed incomes, but others are at a point in their lives when they may be able to cash out their current homes and purchase a home without a mortgage.
So, what kind of market are we in right now? The best answer lies in how many months of inventory we currently have. Months of supply is the measure of how many months it would take for
the current inventory of homes on the market to sell, given the current
pace of home sales. For example, if there are 50 homes on the market and
10 homes selling each month, there is a 5 month supply of homes for
sale.
2022 began as a strong seller's market and, in spite of increases in the the number of "Days on Market" (DOM) before going under contract and some downward adjustments to list prices, it remains a seller's market, albeit not as strong as we have grown accustomed to in the past year or so. The numbers in red below are for November and December 2022.
SCCL Single Family Homes
SCCL Carriage Homes and Villas
TREETOPS
Below are the end-of-year stats for both SCCL and TreeTops.
The number of Active listings was very low
during the first quarter and began to increase mid-year.
You can always find the most current stats using the tabs at the top of this page.
Be sure to come back often to check out what the market is doing.
No comments:
Post a Comment