September saw some slight changes in the housing market, but overall remained comparable to prior months.  With the trickle down effect of the Federal Reserve cutting interest rates lowering mortgage interest rates, will the data in October look different?  Only time will tell.  But, for now, let’s look at what happened in September to homes in Locust Grove.

Homes in Locust Grove for Sale During September

In September there were seventy homes on the market in Locust Grove; this is a decrease from August’s eighty five.  The homes in Locust Grove for sale spent an average of forty eight days on the market which is similar to last month’s forty six days.  The average list price in September was $539,000.

Dropping interest rates may prompt some sellers to list their homes.  While at first glance you may not think that sellers and interest rates are directly tied together, it is important to remember that sellers are also buyers.  If their current mortgage interest rates are below five percent, it can be challenging to accept a higher rate for a new home especially if the seller has some flexibility in when to move.  However, as interest rates decrease, the gap between the two mortgage rates lessens.

Homes in Locust Grove Under Contract in September

Fifty homes in Locust Grove went under contract during September.  This was an increase of eight homes when compared to the previous month.  These homes spent forty-four days on the market.  This stat is similar to August too.  The average list price of the homes in Locust Grove was $567,000.

As we approach the holiday season, traditionally fewer homes enter the market.  However, this can be a great time to list a home because the buyers out there searching for a new home are serious ones.  Here are some tips for getting your home ready to sell during the holiday season.

Homes in Locust Grove that Sold in September

There were thirty-three homes that sold in September; this is a slight increase over August where twenty eight homes sold.  The average days on the market was forty-two and the average price for the homes in Locust Grove was $450,000.  Fourteen homes offered closing cost contingencies to the buyers.