Windsong Ranch - Housing Market - December 2023
Brent Wells December 30, 2023
Brent Wells December 30, 2023
The Windsong Ranch real estate market is starting to soften for home sellers with an increase in inventory, longer days on market, and a lower ask vs sales price ratio. However, actual sales prices are up, go figure! This is being driven by the new home builders and their hyper agressive desire to win every sale.
Let's start by examining the Months Supply of Inventory is 4.32. This metric represents the number of months it would take to sell all the homes on the market if no new listings were added. This is down about 35% over last year at this time.
Windsong Ranch sellers are benefitting from a slight sellers market and I mean slight. If you price your home too high you will sit on the market and stagnate.
Now, let's consider the month over month change of a -8%. This decline suggests that the market has become more competitive over the past year, with less homes on the market. This change indicates an increased demand for properties and may also cause prices to rise.
Moving on, the Median Days Homes are On the Market is 34. This metric provides an average number of days it takes for a property to sell. A lower number is typically better for our Windsong Ranch home sellers and with a decrease of 25% this is a huge help and so are dropping interest rates!
Next, let's discuss the List to Sold Price Percentage, which currently stands at 95.9%. This shows the percentage of the listed price that a property ultimately sells for. Windsong is showing homes consistently selling for 5% below asking price. Sellers be ready to lower your price or better yet hire an agent that will tell you the truth on pricing.
Lastly, we have the Median Sold Price, which is currently $848,750. This metric represents the middle point of all sold prices in the market. It provides an overview of the price range that buyers and sellers can expect. In Windsong Ranch, we are currently show a 5.5% increase over last month.
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