Harvest Hills Real Estate Market Summary – January 2025

Market Trends:

Detached Homes

• Sales: 7 units (+133% YoY)

• Benchmark Price: $620,800 (+4% YoY)

• Inventory: 8 units (+300% YoY)

• Months of Supply: 1.14 months

Detached homes saw strong demand, with a notable increase in sales and inventory levels. Prices have experienced steady growth, reflecting continued buyer interest.

Semi-Detached Homes

• Sales: 0 units (No sales activity)

• Benchmark Price: N/A

• Inventory: 0 units

Semi-detached homes had no recorded sales in January 2025, indicating a lack of inventory or market activity in this segment.

Row Homes (Townhouses)

• Sales: 2 units (+100% YoY)

• Benchmark Price: $422,500 (+1% YoY)

• Inventory: 1 unit (No change YoY)

• Months of Supply: 0.5 months

Row homes showed an increase in sales activity with stable pricing. However, limited inventory suggests continued pressure on supply.

Apartments

• Sales: 1 unit (No change YoY)

• Benchmark Price: $403,400 (-2% YoY)

• Inventory: 6 units (+500% YoY)

• Months of Supply: 6 months

Apartment sales remained flat compared to last year, but inventory surged significantly, leading to a slight price decline.

Overall Market Performance

• Total Residential Sales: 10 units (+100% YoY)

• New Listings: 15 (+275% YoY)

• Benchmark Price: $534,000 (Stable YoY)

• Months of Supply: 1.7 months (+750% YoY)

The Harvest Hills real estate market saw strong sales growth, particularly in detached and row homes, while the apartment segment faced increased inventory. The benchmark price remained stable, and supply levels increased compared to last year.

2025 Real Estate Outlook for Harvest Hills

1. Continued Demand for Detached Homes

   • With limited supply and steady price growth, detached homes are expected to remain a key driver of the market.

2. Row Homes Gaining Popularity

   • Townhouses continue to be an attractive option for buyers looking for affordability and space.

3. Apartments Facing Inventory Challenges

   • The increase in apartment listings may lead to slower price appreciation in this segment.

4. Moderate Price Growth Expected

   • Overall, property prices are expected to rise at a steady pace, driven by strong demand and limited inventory in key segments.

5. Market Resilience Amid Interest Rate Trends

   • Depending on economic conditions and mortgage rates, buyer activity may fluctuate, but Harvest Hills remains a desirable location.