Market Overview
Total Sales: 10 homes sold, marking a 43% increase from December 2023.
New Listings: 11 new listings, a 267% increase from last year.
Inventory: 14 active listings, up 250% year-over-year.
Benchmark Price: $536,100, reflecting a 0.6% annual increase.
Months of Supply: 1.40 months, indicating a continued seller’s market.
Market Breakdown by Property Type
Detached Homes
Sales: 6 homes sold, a 20% increase year-over-year.
New Listings: 4 new detached home listings (+100% Y/Y).
Benchmark Price: $616,100, showing a 2.4% increase from last year.
Market Trend: Detached homes remain in demand, with a rise in new listings and moderate price appreciation.
Semi-Detached Homes
Sales: 0 sales recorded in December.
New Listings: 0 new listings.
Benchmark Price: N/A (No activity in this segment).
Market Trend: Limited supply and demand in this category.
Row (Townhouses)
Sales: 0 units sold, a 100% decline compared to last year.
New Listings: 2 new listings, showing a 100% increase.
Benchmark Price: $430,900, a 3.0% increase from last year.
Market Trend: Townhouse sales were inactive this month, but prices have continued to rise.
Apartments
Sales: 4 apartment sales, no year-over-year comparison available.
New Listings: 5 new listings, up 100% from last year.
Benchmark Price: $410,000, reflecting a 145% price increase.
Market Trend: Apartments continue to be an attractive option, with strong price growth and an increase in new listings.
Harvest Hills 2024 Annual Market Summary
Overall Market Trends
Total Sales for 2024: 132 homes sold, a 4% decrease from 2023.
Total New Listings for 2024: 182 new listings, reflecting a 14% increase from 2023.
Average Months of Supply for 2024: 1.32 months, a 68% increase from the previous year.
Annual Benchmark Price: $550,717, marking a 9.1% increase year-over-year.
Median Home Price: $537,500, increasing 4.6% annually.
Average Home Price: $539,231, up 8.4% compared to last year.
Annual Breakdown by Property Type
Detached Homes (2024)
Total Sales: 64 homes, down 16% from 2023.
Total Listings: 83 new listings, a 7% decline.
Benchmark Price: $616,100, up 2.4% from last year.
Market Trend: While sales slowed slightly, detached home prices continued to rise due to steady demand.
Semi-Detached Homes (2024)
Total Sales: 6 homes, a 25% decrease year-over-year.
Total Listings: 10 new listings, up 43%.
Benchmark Price: N/A (Due to limited transactions).
Market Trend: Minimal activity, but inventory increased.
Row Homes (Townhouses) (2024)
Total Sales: 21 homes, down 13% from 2023.
Total Listings: 28 new listings, up 12%.
Benchmark Price: $430,900, a 3.0% increase from last year.
Market Trend: Demand slightly weakened, but townhouse prices continued to rise.
Apartments (2024)
Total Sales: 41 apartments, a 37% increase compared to last year.
Total Listings: 61 new listings, up 61%.
Benchmark Price: $410,000, a 145% price surge.
Market Trend: Apartments were the fastest-growing segment, with significant price growth and rising inventory.
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