November 30, 2023 - Freeman Area Market Update

Our local real estate market in the Freeman School District area continues to perform well. Despite high rates and low inventory, there has been significant movement in the past month. Three homes with prices exceeding $350,000 closed in the last 30 days. The community has been eagerly awaiting changes to 405 S Western, and it has been acquired for $395,000. Anticipate renovations starting soon, possibly returning to the market in Spring/Summer 2024 at a deserving price. Alternatively, the new owners might undertake the needed repairs for personal residence. In either case, it's positive news for the immediate surrounding area. Notably, 249 Carriage Hill Drive in Sans Souci sold for a robust $390,000, and 29 Manchester Way in Cherry Hill sold for $360,000.

Nine homes have gone under contract in the past 30 days, with only four homes actively for sale and two on the Private Market. Private Market homes are for sale but not publicly viewable. If you have questions about those, contact your preferred Realtor for more information.

The average days on the market for homes currently for sale is over 45 days. In contrast, the average market time for sold homes in our neighborhood over the past three months is just over 10 days. A reminder that pricing is crucial right now. Well-maintained homes priced competitively are selling rapidly. If a home is on the market for more than two weeks, it may indicate a challenge in attracting buyers.

I hope this information has been of interest to you. As always, feel free to call me at 630.906.7266 if you have any questions, or you can email me at dave@dave.homes.