Danielle Malecek
Jun 8, 2023
Mills River Market Report - June 2023
Overall, the data indicates a mixed picture for the Mills River real estate market. While there was an increase in the number of homes sold in May 2023 compared to April 2023, the median sales price has significantly decreased both on a monthly basis and when compared to the previous year. Additionally, the total sales volume decline indicates a potential slowdown in the market, which may be influenced by various economic factors or shifts in buyer preferences.
Total Home Sales: In May 2023, the number of homes sold in Mills River increased to 14, up from 10 homes sold in April 2023. This indicates a positive trend in the real estate market, showing an upswing in buyer activity and demand during May.
Median Sales Price: The median sales price in May 2023 was $534,500, significantly lower than the median sales price of $796,750 recorded in April 2023. This 33% decrease in median sales price suggests a potential cooling of the market or a shift in the types of properties being sold.
Median Sales Price Comparison (May 2023 vs. May 2022): Comparing the median sales price of May 2023 to that of May 2022, there has been a substantial 36% decline. The median sales price dropped from $832,000 in May 2022 to $534,500 in May 2023, indicating a notable downward trend over the year.
Total Sales Volume: The total sales volume in May 2023 experienced a 25% decline compared to May 2022. This drop suggests that despite an increase in the number of homes sold in May 2023, the overall value of these sales is lower than in the same period the previous year.
For more information please see the attached report.