Single Family Homes in Cumberland County
The real estate market for Single Family Homes in Cumberland County witnessed notable trends in December, reflecting dynamic shifts in key indicators.
The Median Sales Price for single-family homes experienced a decent 10% year-over-year increase, reaching $495,000. This increase is indicative of demand and sustained price growth in the market. Conversely, it marks a 8.3% downtick from the previous month.
Closed Sales saw a slight decline of 2.9% compared to the same period last year, totaling 198 transactions. This decrease is more pronounced, showing a 16.5% drop from the previous month.
The Median Days on Market year-over-year stands at 9 days, which shows a 18.2% decrease from last December indicating a shorter time on the market compared to last December. However, this represents a 12.5% increase from the previous month, a slightly longer time in the market.
Inventory Supply, a crucial metric, stood at 1.4 months, indicating a 9.5% year-over-year increase and a 9% fall from the previous month. This suggests a slight growth in inventory this year and potentially a shift towards a buyer's market.
The Sold-to-List Price Ratio reached 101.2%, showing a slight dip of 0.5% from the previous year and a 0.2% decrease from the previous month.
Condos in Cumberland County
The real estate market for Condominiums in Cumberland County witnessed notable trends in December, reflecting dynamic shifts in key indicators.
The Median Sales Price for Condominium homes experienced a substantial 13.5% year-over-year increase, reaching an impressive $482,500. This surge is indicative of robust demand and sustained price growth in the market. Conversely, it marks a 11.5% downtick from the previous month.
Closed Sales, however, saw an increase of 1.7% compared to the same period last year, totaling 60 transactions, a 13% drop from the previous month.
The median Days on Market year-over-year stands at 16 days, which is a dramatic 77.8% increase indicating a significantly longer time on the market compared to last December and previous month.
Inventory Supply, a crucial metric, stood at 1.9 months, a 24% year-over-year decrease and a 21% fall from the previous month. This suggests a large dip in inventory this year.
The Sold-to-List Price Ratio reached 101.2%, showing a slight dip of 0.5% from the previous year and a 0.2% decrease from the previous month.
