Skip to content

MARKET REPORTS

Curious about what’s going on in the market right now?
Click below and download the latest real estate data. Don’t see your desired city or county? Contact us and our experts would be more than happy to answer any questions you may have.

AUGUST 2023

July NWBG Website Market Update

The median closed sales price is up from a year ago by 8% ($1,453,000 vs. $1,350,000). Although down 3% from last month ($1,453,000 vs. $1,500,000 July 2023).
— Prices are 16% below the April 2022 peak of $1,722,500
— Prices are 12% above the recent low in December 2022 of $1,299,000

The active inventory available for sale reached its peak in 2023 at the end of August, totaling 698 units. However, the number is 32% lower than the figure from the same period last year, which stood at 1,022 units. Presently, common observations regarding the inventory include:
— “The good ones go”. A significant demand for high-quality products causes the best homes to sell quickly.
— The active inventory is made up of homes that are overpriced and/or have livability concerns.

Prospective buyers should consider the following:
— Historically, new listings taken in September (106% of average month) and October (85% of average month) are near an average month.
— November (51% of the average month) and December (32% of the average month) are the lowest new listings taken months of the year…by a lot.