Will we see the typical holiday season slow down?
I find it a little hard to believe that we are almost through another year. 2023 has been an interesting one in real estate, hasn’t it? Next month, I will be reflecting more on the year and what I predict for 2024, but, until then, here is your market update for homes in Locust Grove for November 2023.
Homes in Locust Grove for Sale
In November, there were fifty three homes in Locust Grove that were listed for sale. This was a decrease from the seventy two homes for sale listed in October. The average days on the market increased from eight seven to one hundred seventeen. The average list price saw a decrease from $489,000 to $479,000.
What does this mean?
We are seeing the traditional holiday slow down in the market. Unless you really need to make a transition, most buyers and sellers are not interested in moving during the holidays. Also, buyers may be holding out a little longer to move ahead in their home search while they wait for interest rates, which have made some slight drops, to decrease further.
Pending Homes in Locust Grove
In November, there were thirty homes under contract which was similar to October’s twenty eight homes under contract. The average days on the market for these homes saw a slight increase from forty four to forty nine days. The average price for pending homes in Locust Grove decreased from $430,000 to 413,000.
What does this mean?
While the housing market may be a little slower, it has not come to a complete halt. There still are buyers looking for homes and sellers ready to sell.
Sold Homes in Locust Grove
In November, nineteen homes in Locust Grove sold which is close to October’s twenty two homes that sold. The average number of days on the market in November was thirty. The average list price for homes in Locust Grove that sold in November was $419,000.
What does this mean?
At first glance these numbers appear rather low, so I was curious to compare November 2023 to November 2022. I found that the stats for 2022 were pretty similar to this year. In November of 2022, there were 20 homes in Locust Grove that sold. The average days on the market was thirty, and the average price was $375,900.
When we compare 2022 to 2023, it turns out that these market conditions are similar for November.
