“As the spring market blows in, it is announcing itself differently in every neighborhood,” reports Linda O’Koniewski, CEO of Leading Edge. “Real estate is proving to be hyper local. As unprecedented appreciation comes to an end, some neighborhoods continue to see stiff competition for homes with multiple offers. Homes that are priced “aggressively” and missed the mark are sitting unsold. Pricing is more important now than it has been in five years.”
February sales of single-family homes in the Leading Edge service area increased +4.8% year-over-year. Inventory is up +5.5%. The number of days on market over the last 12 months is down -5.6% while median sale prices remain up +5.4% at $621,000.
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