The Johnson Ranch Real Estate Market Report for November 2024

Merry Christmas and Happy Holidays to my Johnson Ranch neighbors! As the year comes to a close, I reflect upon my wonderful neighbors and their new 4-legged friend, the neighbors that moved away and how much I miss them, and the new neighbors that have arrived, making all my terrible old one-liners fresh again.

November brought a good amount of turbulence to our neighborhood real estate market and added a dash of optimism to give us something to look forward to as we dive into the real estate report for November 2024.

Months Supply of Inventory

First up, we have the Months Supply of Inventory at 6.11. This metric tells us how long it would take for all the current homes on the market to be sold, given the current rate of sales. A lower number typically indicates a seller's market, while a higher number points towards a buyer's market. We saw a drop month over month; however, a 6-month supply tells us that buyers have plenty of options.

Median Days on Market

Moving on to the Median DayDays,mes are On the Market at 55. This metric gives us an idea of how quickly homes are selling in the current market. A lower number suggests a faster-paced market where homes are in high demand. This number did show a significant rise in the last 30 days. This is an indication that buyers are being more choosy and fewer new listings are hitting the market. 

List to Sold Price Percentage

Now, let's talk about the list to sold price percentage of 99.1%. This indicates that homes are typically selling very close to their list price, showing strong negotiation skills and market demand. This metric did show a miniscule drop from the prior month, but nothing to be alarmed over. Homes are still selling nearly at their listing price, evidencing that sellers are pricing their homes well and demand in our neighborhood remains strong. 

Median Sold Price

Lastly, we have the median sold price of $391,500. This is the midpoint price of all homes sold in a certain period, giving us an idea of the overall value of properties in the current market. 

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 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.

Want to know more about Johnson Ranch? Check out the Johnson Ranch Community Page here!

Do you live in Johnson Ranch?  Stay in the know on the latest real estate happenings in Johnson Ranch by getting your free monthly home valuation and market activity report. See your estimated home value, current listings in our community, track your home equity, and so much more in one monthly email.