Market Trends

Detached Homes

• Sales: 6 units (-14% YoY)

• Benchmark Price: $782,700 (+10% YoY)

• Inventory: 7 units (+17% YoY)

• Months of Supply: 1.18 months

Detached homes remained in high demand, with a significant price increase. However, sales dropped slightly compared to last year, likely due to limited inventory.

Semi-Detached Homes

• Sales: 1 unit (No YoY change)

• Benchmark Price: Not available

• Inventory: 0 units (-100% YoY)

Semi-detached homes had minimal market activity, reflecting a lack of available listings.

Row Homes (Townhouses)

• Sales: 1 unit (No YoY change)

• Benchmark Price: $480,800 (+10.7% YoY)

• Inventory: 2 units (No change YoY)

• Months of Supply: 2 months

Row homes experienced stable sales and inventory levels, with moderate price growth.

Apartments

• Sales: 3 units (+200% YoY)

• Benchmark Price: $417,500 (+8.9% YoY)

• Inventory: 2 units (+100% YoY)

• Months of Supply: 0.67 months

Apartment sales saw a sharp increase, supported by higher demand. Prices appreciated as inventory remained relatively low.

Overall Market Performance

• Total Residential Sales: 11 units (+10% YoY)

• New Listings: 11 (+10% YoY)

• Benchmark Price: $703,200 (+7% YoY)

• Months of Supply: 1.45 months (+220% YoY)

Tuscany’s market showed steady sales growth and price appreciation, though inventory levels increased compared to last year, which could lead to more balanced conditions.

2024 Annual Summary

Market Overview

• Total Residential Sales: 267 (-6% YoY)

• New Listings: 318 (-4% YoY)

• Benchmark Price: $699,608 (+10.9% YoY)

Despite a slight decrease in total sales, Tuscany’s real estate market experienced strong price growth in 2024, particularly for detached homes and townhouses.

Key Trends in 2024

1. Price Growth Across All Property Types

   • The benchmark price rose nearly 11%, with detached homes seeing the highest appreciation.

2. Limited Inventory Led to a Competitive Market

   • Low inventory levels kept the market competitive, with homes selling close to the listing price.

3. Shift in Apartment Demand

   • While apartments had slower activity earlier in the year, demand picked up towards the end of 2024, driving price increases.

4. Sustained Interest in Townhouses

   • Townhomes remained a preferred option for buyers looking for affordability and space.