Market Overview McKenzie Towne’s real estate market continued to show moderate growth with sustained demand across different housing types, but it also experienced some variation in inventory and prices year-over-year.

Sales and Inventory

• Total Residential Sales: 33 properties, reflecting a year-over-year increase of 3%.

• New Listings: 35 properties, indicating no significant change from October 2023.

• Inventory: Increased by 56% year-over-year to 39 units, a sign of growing supply in response to steady demand.

• Months of Supply: Increased to 1.18 months, a 56% increase, showing a slight cooling from a highly competitive market.

• Average Days on the Market: 24 days

Property Types and Price Trends

1. Detached Homes:

   • Sales: 16 properties, up by 45% from last year.

   • Inventory: 13 properties, slightly down by 7%.

   • Benchmark Price: $650,200, a 3.1% year-over-year increase.

   • Price range: $500,000 - $950,000.

   • Average Days on the Market: 23 days

2. Semi-Detached Homes:

   • Sales: 2 properties, unchanged from last year.

   • Inventory: 5 properties, marking a 25% increase.

   • Benchmark Price: $482,500, reflecting a robust 9.7% price increase year-over-year.

   • Price range: $450,000 - $505,000.

   • Average Days on the Market: 9 days

3. Row Homes:

   • Sales: 5 units, down by 29% compared to October 2023.

   • Inventory: 8 units, a significant 167% increase.

   • Benchmark Price: $432,900, up by 9.3% from last year.

   • Price range: $319,500 - $435,000.

   • Average Days on the Market: 24 days

4. Apartments:

   • Sales: 10 units, decreasing by 17%.

   • Inventory: 9 units, down by 36%.

   • Benchmark Price: $343,000, up by 9.6% year-over-year.

   • Price range: $230,000 - $450,000.

   • Average Days on the Market: 28 days

Price Trends

• Total Residential Benchmark Price: $503,200, representing a 6.4% increase year-over-year, indicating overall appreciation in property values across McKenzie Towne.

Conclusion McKenzie Towne’s real estate market remains active and largely balanced. The slight increase in inventory and months of supply suggests a shift toward a more balanced market, with home prices continuing to appreciate across property types. Buyers can expect a moderate pace in the market, with slightly less pressure compared to previous months.