Danielle Malecek
Jun 8, 2023
Henderson County Market Report
Summary of Henderson County Real Estate Market Analysis:
The analysis of the data points for the Henderson County real estate market reveals several key trends:
Median Sales Price: The median sales price from June 2023 to June 2022 showed a slight increase from $450,302 to $455,000. Despite this, there was a significant decline of 22% in the number of homes sold during the same period, indicating a potential slowdown in the market.
Median List Price: The median list price experienced a 5% increase, rising from $439,000 in June 2022 to $459,000 in June 2023. This suggests that sellers are pricing their properties higher, potentially contributing to the decrease in home sales.
Total Sales Volume: Total sales volume in June 2023 compared to June 2022 was down by 25%, marking the most significant indicator of a potential slowdown in the Henderson County market. The decrease in the number of homes sold year to date (687 in 2023 compared to 921 in 2022) further supports this trend.
July 2023 Median List Price: The current median list price for July 2023 stands at $625,000, significantly higher than the June 2023 median sales price of $459,000. This suggests that more expensive homes are facing slower movement in the market compared to lower-priced properties.
Sales to List Price Ratio: The average sales to list price ratio in June 2023 is 99%, down from 102% in June 2022. This indicates that homes are generally selling closer to their list prices. However, only 38% of properties sold above their original asking price, with a median time of 5 days on the market.
In conclusion, the Henderson County real estate market is showing signs of a potential slowdown. Although the median sales price increased slightly, the decrease in the number of homes sold, along with a drop in the sales to list price ratio and total sales volume, suggests a shift in the market dynamics. Sellers' higher list prices and a slowdown in higher-priced property sales indicate a need for cautious observation of market conditions.