Keeping an Eye on May 2023 Real Estate Trends

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The numbers for the month of April are complete, which gives us a picture of May’s real estate trends in our area. Let’s take a look at some of the communities in our area.

Clear Lake

Let’s start this month’s market report by looking at Clear Lake, where our main office is located.

We keep banging the same drum month after month, but the number of inventory is down. In Clear Lake, there were just 2 active listings in April. And the homes that were listed were on the market for just 3 quick days!

The median listing price for residential properties in Clear Lake was $472,000. Remember, median means the number right in the middle of the list and the list of homes for sale was quite short! The median list price was slightly higher than the $465,000 price the previous month. 

The median sale price for the community was $282,000, which was an increase from $251,000 the previous month.

There were 4 units sold in Clear Lake in April.

Amery

Let’s look at the numbers for Clear Lake’s neighboring community, Amery.

There were 6 active listings during April in this larger area. But we’re seeing the same issue in this community, which is low inventory.

The median listing price for properties in Amery was $527,000. That’s up from $399,000 the previous month and even farther north of the median listing price of $277,000 the previous year. April’s median price was based on the 3 homes that were sold during the month. 

The median sale price was $351,000. This number is lower than the previous month, which was $355,000 and was $326,000 the previous year.

And the average days on the market was 7 days, down a whopping 83% compared to a year earlier when the average days on the market was 42 days! As you can see, homes are selling very quickly in 2023.

Osceola

Let’s look at one of our favorite border towns, Osceola!

The average number of days properties in this community were on the market before being sold was 38 days. That number practically remains unchanged compared to the previous year, which was 35 days on the market.

The median listing price for homes in Osceola last month was $325,000. That’s close to the previous month’s median sale price of $322,000. In April 2022, the median listing price was $297,000.

The median sale price of properties sold was $275,000. This sale price was unchanged from the previous month and down from $319,000 the previous year.

The number of active listings was 17 and the number of listings sold was 7.

Glenwood City

We’ve said it before, and we’ll say it again - active listings in smaller communities are sparse. There were just 4 active listings, creating a small pool of homes for potential buyers to select from. 

Looking at the previous month, the median listing price was $212,000 and the previous year, it was $340,000. In April, it was $197,000.

The average days on the market in the Glenwood City community before being sold was just 2 days!

Numbers!

So, what do these numbers mean? How do you interpret them as an informed buyer or seller? The good news is that you don’t have to interpret them. That’s what we at Compass are experts in! Our team of agents practice low-pressure, high-information relationships with all of our clients. 

Let us help you today! Please call Alison Blanchard at (228) 363-2478.