The Johnson Ranch Real Estate Market Report for September 2024

Months of Supply of Inventory

The Months Supply of Inventory at 5.78 indicates the number of months it would take to sell all the current inventory at the current sales pace. A lower number typically indicates a seller's market, where there are more buyers than available properties. The current Months of Supply shows Johnson Ranch in a balanced market.

The 12-Month Change in Months of Inventory increasing by +202.62% shows a significant shift in the market dynamics over the past year. An increase of this size means more competition among the current sellers and more choices for buyers.

Median Days on Market

The Median Days Homes are On the Market at 87 days gives you an idea of how long it takes, on average, for a property to sell. Marketing time is a delicate balance of pricing strategy, volume of active buyers and similar homes listed for sale competing for attention. While 87 days seems like a long time, this metric is approaching normal marketing times for a balanced market.

List to Sold Price Percentage

The List to Sold Price Percentage is at 98.8%, which means that on average, homes are selling for 98.8% of their list price. This percentage is a good indicator of the competitiveness of the market and whether sellers are able to get close to their asking price. This metric has remained nearly unchanged the last two months, and this continues to be a positive sign for those looking to put their Johnson Ranch home for sale.

Median Sold Price

Lastly, the Median Sold Price is $377,450, which is the middle point of all the home prices sold in the market. While is metric has increased slightly in the last month (+1.33%), the gains in this area served to recover the modest losses from the prior month.

Johnson Ranch Real Estate Market Summary

Overall, the correlation between these metrics suggests that there is a rising level of inventory in the market, homes are selling at a relatively normal pace, and sellers are getting close to their asking price. As we enter a more balanced market, it is crucial to for sellers to price their home properly and present it in the most appealing way possible to attract a buyer that has more options at their fingertips.

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