Beginning this month, The Homewood Star will feature a brief real estate section each month. We know that real estate is a significant factor in the fabric of our community, and we plan to bring you relevant information about the state of the Homewood real estate market.
We anticipate that the type of information we present will change with your feedback as time goes on.
This month, we are focusing on a sample of year-over-year quarterly data, organized by elementary school zone.
We’ll also show several recent listings from the market that were active as of July 18. These listings may not still be on the market by the time you are reading this, but the goal of these listings is to give a feel for the different types of homes selling at different price ranges.
Here’s the story the data tells us for the Homewood market:
► Home prices are up only slightly. In Homewood, home prices are up less than 1%.
► Homes are still selling quickly, but in the first half of 2023 the number of days on the market has increased from 2022.
► Overall inventory for Homewood is down year-over-year by about 28%.
► Interest rates have increased from the historic lows of a few years ago. A 12-month period from January 2022 to January 2023 saw interest rates more than double.
