The median sale price is $560,000, up 2.3% YoY. However, closed sales for April dropped 29% YoY to 178, while active inventory increased by 8.2% to 224 listings. The median days on market is only 5 days, but new listings in April fell by 36% to 249. Listings sell for 104.7% over list price, and the month supply of listing inventory is 1.3 absorption rate. The month’s supply indicates that there is currently a relatively low supply of properties available for sale in the area. This could contribute to further price increases in the coming months, as buyers compete for a limited pool of available properties.
Overall, our analysis of the Cumberland County real estate market suggests that the area remains an attractive location for both buyers and sellers, with a strong demand for properties and relatively healthy market conditions. However, it is important for both buyers and sellers to stay informed about the latest trends and statistics in order to make informed decisions in this rapidly-evolving market.
