Spring has officially arrived and alongside the warmer weather and perhaps not so welcome pollen is the stir of the real estate market.  Last month, we saw some signals that the market was becoming more active. Let’s see if this trend continued in March for homes in Locust Grove.

Housing Market Changes in March

Homes in Locust Grove For Sale

In March there were seventy two homes in Locust Grove that were for sale.  This is an increase over February’s fifty four homes that were on the market.  The average days on the market decreased from seventy five days (in February) to fifty seven days in March.  The average list price for a home in Locust Grove was $523,000.  This is an increase from the prior month’s average list price of $516,000.

Pending Homes in Locust Grove

During March, forty five homes were pending sales; this means they are under contract and the buyers and sellers are working through the home sale contingencies like a home inspection and appraisal.  In February there were thirty four pending sales.   These homes spent an average of twenty seven days on the market in March which is a large decrease from the prior month’s average of forty six days.  The average list price for these homes in Locust Grove was $484,000.

Sold Homes in Locust Grove

Twenty eight homes sold during March.  This is a slight drop from the thirty one homes in Locust Grove that sold in February.  The average days on the market for the homes was sixty five days.  The average price for homes in Locust Grove that sold in March was $446,000.  (February’s average was $424,000.)  The sellers of twelve out of the twenty eight homes that sold provide closing cost assistance to the buyers.

Is this the spring market?

The increased activity in the for sale and pending categories of the housing market update would indicate that our local area is seeing a surge of activity.  While there are many outside factors that may affect whether a person feels comfortable buying or selling a home, we still are seeing an increase in volume of homes available and an eagerness from buyers to purchase as reflected in the number of homes in Locust Grove for sale in March and the decrease in the average days on the market.

If you are ready to make a move during the spring market, then I am here to help! Since the selling process can move faster during the spring months, it is important for sellers (and buyers too) to be well informed and prepared for their real estate transactions. Whether you want to find the value of your home, have questions about the process that need answered, or just want to talk out all of your option with an expert, I am here to help guide you. Send me a message or call 540-360-5166 to get started.