Despite low levels of inventory and buyer's cautious in making decisions, Oswego YTD home prices had only a 1.5% drop in average sales price to $288,807 from 2018's high of $293,421. The median sales price took a 3.6% drop from a high of $289,950 in 2018 to 2019's $279,450. There was a 9.1% in home sales of 561 from 2018's low of 514.
In December in the single family category days on market increased 96.2% for 52 days in 2018 to 102 days in December 2019! The good news is that closed sales went up 81% from December's 2018 21 sales to the 38 closed sales in December 2019! Looks like the mild December weather brought out the buyers! The average sales price did drop from 2018's $298K to $279,995 which is a 6% drop.
Current inventory levels of available homes are at 143. Sixteen of these are brand new listings, while there are 8 listings with price adjustments and only 1 reactivated/back on the market listing. There are 49 homes currently under contract and 3 in pendting status.
With continuing low interest rates for the best credit-worthy homebuyers under 4% if you are thinking of buying a home in 2020 get out there and start looking now. Sellers are more motivated in the winter months since weather keeps some buyers at home instead of looking in during snowstorms and lower temperatures!