Every year in January I write my annual recap of Hampton Place Home Sales for the prior year, 2018 will go down as the year of "Sale Pending" no sooner than a home listed did it seem like it was under contract. For those of you who are considering selling in 2019, here is a look back and my forecast for 2019.
A look back at 2018
The overall number of homes SOLD was relatively unchanged from 2017 and hasn't changed much over the past 5 years, we have been generally seeing about 20 to 30 homes sell per year. In a neighborhood the size of Hampton Place we would expect a turn over rate of 10% but have seen only about a 5% turn over rate for the last 5 years.
While the number of homes SOLD has been flat, the average sales price for Hampton Place homes has been steadily increasing. The average sales price in 2018 increased 6.4% from 2017 and is up an incredible 17.3% from 5 years ago.
Another encouraging statistic is the average days to sell, in 2018 Hampton Place homes Sold in 15 days or less while taking 41 days in 2017 and 54 days five years ago.
So what does 2019 have in store for Hampton Place?
We are expecting 2019 to be the year where the market starts to change. We have been in a sellers market for several years now due to increased demand and a severe lack of available homes. Rising interest rates has begun to slow demand as higher rates and the increased value of homes has pushed many buyers out of the market.
Our expectation is that the Spring market will still be strong but will lead into a slower market for the fall and that the balance will start to shift from strong sellers market to a more balanced market in the second half of the year.
View all Homes Currently for Sale in Hampton Place: HamptonPlaceHomeListings.com
Hampton Place Home Sales Report
|2018||1 year change||5 year change|
|Average Sales Price||$402,498||$376,996 ( + 6.4% )||$333,217 ( + 17.3% )|
|Highest Sales Price||$462,000||$480,000||$473,500|
|Lowest Sales Price||$315,000||$310,000||$241,000|
|Average Days to sell||15||41||54|
See all available homes for sale in Johnson County Now at SearchJoCoHomes.com
Selling your Hampton Place Home in 2019? Mike Russell & Associates can help, we are 14 year Hampton Place Residents with over 19 years of real estate experience. Mike Russell & Associates is consistently in the Top 5% of Johnson County Realtors, we have been awarded the Five Star Professional Award 8 years in a row.
Call us today at 913-523-6427