Compared against the same period one year earlier.
Median Sale Price · Last 12 Months
Price Distribution
Price Trends
The median sale price in Elm Springs came in at $662,000, with an average sale price of $654,625, down 14.2% from the prior period's median of $771,500. Median price per square foot was $228.89, an 8.7% decline from the previous period's $250.62. List prices also softened, with a median list price of $730,000 and an average of $801,500, down 5.8% from the prior period.
Inventory & Supply
Active listings reached 42, more than double the prior period's 19, a 121.1% increase. Months of supply climbed to 83.8, up sharply from 19 months previously, a 341.1% jump. Combined with an absorption rate of 1.19% and a pending-to-active ratio of 2.4%, these figures point to a Buyer's Market.
Pace of Sales
The average days on market rose to 87, up from 72.63 in the prior period, a 19.8% increase; the median days on market was somewhat higher at 96.5, suggesting a mix of faster and slower sales. Four homes sold during the period, down 50% from eight previously, and the sell-through rate stood at 66.7%. Homes that did sell achieved a median sale-to-list ratio of 98%.
Property Snapshot
Sold homes had a median size of 2,873 square feet, averaging 4.44 bedrooms and 3.78 bathrooms, with a median year built of 2018. Sales activity spanned a range of price points, from a home under $450,000 with 34 days on market to one above $900,000 with 94 days on market. All recorded sales in this period were single-family houses, which carried a months-of-supply figure of 4 within that category.
Compared against the same period one year earlier.
Median Sale Price · Last 12 Months
Elm Springs
Elm Springs recorded 4 sales against 42 active listings, with a median sale price of $662,000. Homes took an average of 87 days to sell, and months of supply stood at 83.8, reflecting a market with more available inventory relative to recent sales activity.