With only a few days left in 2023 I wanted to give everyone in Hampton Place a quick update on the home sales in 2023. Hampton Place mirrored much of the South Johnson County real estate market with an extremely tight number of homes coming up for
sale, in a normal market you would expect 10% of the homes in a neighborhood to turn over in any given year. For Hampton Place that would be roughly 45-50 homes, with only 10 home sales that is substantially below the norm and half of 2022 number when
20 homes SOLD and in comparison to one of Hampton Places top years 2005 when 58 homes SOLD.
While the number of sales were down, the sales prices were up, a very solid 8.5 % compared to 2022 and up 30% since the start of the pandemic in 2020 when the average sales price was $418,000. Another really good sign is that homes in Hampton Place consistently
SOLD above list price with the average 102.9% of list
In reviewing the statistic there were 2 number that would be considered negative, the average days to sell showed an increase from 5 to 22 but that is deceiving as there were 2 homes specifically that took way above the average time to sell, all of the
other ones SOLD very quickly. The other was the highest sale for the year was $630,000 compared to the highest sale of $660,000 in 2022.
With 2024 quickly approaching we are expecting to see a much different year than 2023, as interest rates are expected to start falling and more homes coming to market. One of the bright spots for available homes is new construction which makes up about
35-40% of the available inventory. Even better, some builders are evenoffering interest rate buy Dows on completed homes including Rodrock on several homes in Mission Ranch.
Would you like more information on the market, your homes value or a list of available homes? We are here to help Feel free to call or text to 913-523-6427