North Park Homes For Sale

North Park Real Estate Market

Situated as a burgeoning neighborhood, North Park has much to offer in terms of lifestyle and investment opportunities. If you're considering venturing into the North Park real estate landscape, here's an in-depth analysis of the prevailing market trends:

Competitive Landscape

The North Park housing market is moderately competitive. While some properties attract multiple offers, homes in this area generally sell after about 21 days on the market. This reflects an improvement from the previous year, which saw an average of 31 days on the market.

Pricing Dynamics

• Median Sale Price: As of last month, the median sale price for homes in North Park stood at $416,000, marking a significant 34.2% year-over-year increase.
• Price Per Square Foot: The median price per square foot has also appreciated, currently valued at $206, which is a 13.8% rise compared to the previous year.

Sales Volume & Duration

• Monthly Comparison: In September 2023, the area reported 7 home sales, a decrease from the 9 sales recorded in the same month last year.
• Days on Market: Homes in North Park generally remain listed for around 36 days before being sold.

Offer Dynamics

• Multiple Offers: Some properties in North Park do attract multiple offers, intensifying competition among buyers.
• Sale-to-List Price Ratio: On average, homes in North Park sell for around their list price.
• Hot Homes: Properties that are particularly appealing, known as 'hot homes,' typically sell for about 3% above their list price and can go pending in as quickly as 14 days.

Armed with this information, both buyers and sellers can more effectively navigate the North Park real estate market. As always, consulting a local real estate professional is advisable for a more nuanced understanding of market dynamics in this up-and-coming area.