Union County Real Estate Market Update - New for February 2024

Union County Real Estate Market: April 2023Welcome to our latest review of real estate in Union County, a thrilling saga filled with unexpected twists and turns. We'll delve into key metrics that shape the local market, bringing you a nuanced understanding of the current trends.

Ever wondered how fluctuations in new listings, closed sales, or median sales prices can impact you as a buyer, seller, or investor? Or are you thinking about moving to Union County? As we navigate the dynamic market terrain for single-family homes, townhouses, condos, and adult communities, we invite you to ponder this question: in the dance of supply and demand, who is leading in Union County's real estate market—the buyer or the seller? Read on to find out.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Union County Real Estate Unveiled: Navigating the 2024 Market Maze

Diving into Union County's real estate market this January 2024, we've seen everything from the unexpected to the unprecedented. Whether you're eyeing the bustling townhouse-condo scene, the serene single-family neighborhoods, or considering the luxurious adult communities, the market has a story for you. With new listings on the rise, median sales prices reaching new heights, and homes selling faster than ever, it's a whirlwind of activity that can't be ignored.

But here's a thought to ponder: In a market where choices vary from the fast-paced condo life to the tranquility of adult communities, where do you see yourself? Are you ready to navigate the twists and turns of Union County's vibrant real estate scene? Let's embark on this journey together, unraveling the trends that will shape our decisions in 2024.

Single-Family Homes in Union County

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Union County Single Family Stats for January 2024

January
Jan 2023Jan 2024% (+-)
New Listings 269 286 6.3%
Closed Sales 229 173 -24.5%
Days on Market Until Sale 44 34 -22.7%
Median Sales Price* 510,000 540,000 5.9%
Percent of List Price Received* 100.6 103.8 3.2%
Inventory of Homes for Sale 549 404 -26.4%
Months Supply of Inventory 1.7 1.5 -11.8%
YTD
Jan 2023Jan 2024% (+-)
New Listings 269 286 6.3%
Closed Sales 229 173 -24.5%
Days on Market Until Sale 44 34 -22.7%
Median Sales Price* 510,000 540,000 5.9%
Percent of List Price Received* 100.6 103.8 3.2%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 2/28/2024

Union County's housing market kicked off January 2024 with some fascinating trends that potential buyers and sellers should definitely take note of. First off, the number of new listings rose by 6.3% compared to January 2023, suggesting homeowners are becoming more inclined to sell. However, despite this increase in listings, closed sales dropped significantly by 24.5%, highlighting a potential shift towards a buyers' market.

Homes are also selling faster, with the days on market until sale decreasing by 22.7% to just 34 days. This indicates a high demand for homes, despite the dip in sales. Furthermore, the median sales price has climbed by 5.9% to $540,000, showing that property values in Union County continue to appreciate. Even more compelling for sellers, homes are selling for 103.8% of the list price on average, a 3.2% increase from last year. This suggests that buyers are willing to pay above asking price to secure their desired home.

However, the inventory of homes for sale has seen a sharp decrease of 26.4%, and the months supply of inventory has also dropped. This tightening of available homes makes it a prime time for sellers to consider listing, as the market dynamics favor them with high demand and competitive pricing. For buyers, it’s crucial to act swiftly and be prepared to pay a premium for desirable properties.

Condos & Townhomes in Union County

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Union County Townhouses & Condo Sales in January 2024

January
Jan 2023Jan 2024% (+-)
New Listings 47 43 -8.5%
Closed Sales 20 26 30%
Days on Market Until Sale 49 30 -38.8%
Median Sales Price* 332,500 453,150 36.3%
Percent of List Price Received* 102.0 100.6 -1.4%
Inventory of Homes for Sale 81 72 -11.1%
Months Supply of Inventory 2.1 2.0 -4.8%
YTD
Jan 2023Jan 2024% (+-)
New Listings 47 43 -8.5%
Closed Sales 20 26 30%
Days on Market Until Sale 49 30 -38.8%
Median Sales Price* 332,500 453,150 36.3%
Percent of List Price Received* 102.0 100.6 -1.4%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 2/28/2024

Shifting focus to the townhouse-condo segment in Union County, the start of 2024 showcases a divergent trend from the single-family home market. Despite a slight decrease in new listings by 8.5%, the demand for townhouses and condos has surged, evidenced by a notable 30.0% increase in closed sales. This jump contrasts starkly with the single-family home sector, underlining a growing appetite for more affordable, maintenance-free living options among buyers.

The market for townhouses and condos is heating up quickly, with days on market plummeting by 38.8% to just 30 days. This rapid pace of sales indicates a robust competition among buyers, further confirmed by a staggering 36.3% leap in the median sales price to $453,150. While this price hike signifies a booming market, it's worth noting that the percent of list price received has slightly dipped by 1.4%, suggesting that, unlike in the single-family home market, buyers may have a tad more negotiation room in this segment. Inventory constraints continue to be a theme, with an 11.1% decrease in the number of townhouses and condos available for sale, tightening the market further. However, the months supply of inventory sees a minor reduction, hinting at a somewhat more balanced market condition compared to single-family homes.

For sellers, the current market conditions present an opportune time to list townhouses and condos, capitalizing on the high demand and appreciating prices. Buyers, on the other hand, should brace for competition but might find solace in slightly more negotiable prices. Acting decisively and being prepared to move quickly will be key strategies for both buyers and sellers navigating this dynamic segment of Union County's real estate market.

Adult Community Homes in Union County

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Union County Adult Community Sales in January 2024

January
Jan 2023Jan 2024% (+-)
New Listings 1 1 0%
Closed Sales 2 1 -50%
Days on Market Until Sale 51 62 21.6%
Median Sales Price* 387,500 670,000 72.9%
Percent of List Price Received* 93.0 98.5 5.9%
Inventory of Homes for Sale 6 3 -50%
Months Supply of Inventory 1.5 1.2 -20%
YTD
Jan 2023Jan 2024% (+-)
New Listings 1 1 0%
Closed Sales 2 1 -50%
Days on Market Until Sale 51 62 21.6%
Median Sales Price* 387,500 670,000 72.9%
Percent of List Price Received* 93.0 98.5 5.9%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 2/28/2024

The adult community segment in Union County presents a unique narrative at the beginning of 2024. Despite an unchanged number of new listings from January 2023 to January 2024, the market dynamics exhibit significant fluctuations. Closed sales halved, with only one sale reported in January 2024 compared to two in the previous year. This reduction in sales volume may initially appear discouraging, but a closer look at the data reveals an intriguing uptick in property values, with the median sales price soaring by an astonishing 72.9% to $670,000. Such a sharp increase underscores a robust demand for premium adult community living spaces, possibly driven by buyers seeking luxury amenities and a desirable lifestyle that such communities offer.

Moreover, homes in this segment are selling closer to their asking price, with the percent of list price received rising to 98.5%, indicating a narrowing gap between seller expectations and buyer willingness to pay. However, the increase in days on market by 21.6% to 62 days suggests a more contemplative buying process, typical of the high-end market segment where buyers and sellers are willing to wait for the right match.

The dramatic decrease in inventory, halved to just three homes, combined with a slight reduction in the months’ supply of inventory, points to a tightening market. For potential sellers in the adult community sector, the current market conditions might offer a lucrative opportunity to list their properties, capitalizing on the high median sales price and the apparent buyer interest in premium living experiences. Buyers, conversely, should act with informed decisiveness, recognizing the competitive nature of this niche market, especially for properties that tick all the boxes for luxury, comfort, and community.

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Union County's Local Market Update - December 2023: Navigating the Trends

Attention, Union County residents and future homeowners! The latest real estate stats for December 2023 are in, and they're painting a fascinating picture. Let's dive into what these numbers mean for you!

Single-Family Homes in Union County

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Union County Single Family Stats for December 2023

December
Dec 2022Dec 2023% (+-)
New Listings 161 143 -11.2%
Closed Sales 291 235 -19.2%
Days on Market Until Sale 36 29 -19.4%
Median Sales Price* 530,000 580,000 9.4%
Percent of List Price Received* 101.3 103.7 2.4%
Inventory of Homes for Sale 545 369 -32.3%
Months Supply of Inventory 1.7 1.4 -17.6%
YTD
Dec 2022Dec 2023% (+-)
New Listings 5,172 3,961 -23.4%
Closed Sales 4,147 3,188 -23.1%
Days on Market Until Sale 32 32 0%
Median Sales Price* 515,000 561,000 8.9%
Percent of List Price Received* 103.9 104.4 0.5%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 1/29/2024

Firstly, the market's becoming more exclusive. New listings have dipped by a significant 11.2% compared to last December, and a whopping 23.4% year to date. What does this mean? Fewer houses are up for grabs, making each listing more precious. Now, let’s talk about sales. Closed sales are down by 19.2% compared to last December, echoing the trend in reduced listings. This decrease could be a signal for those thinking of selling – your property might be in higher demand due to lower availability!

Here's a bright spot: homes are selling faster! The Days on Market Until Sale have decreased from 36 to 29 days. This speedier process indicates a still-active market where buyers are eager.

The most exciting part? The Median Sales Price has jumped by 9.4%, from $530,000 last year to $580,000 now. That's not just good news; it's great news for sellers. Your property value is likely on the rise! And if you're selling, expect to get more than your asking price. The Percent of List Price Received has seen a modest but important increase.

Lastly, with the Inventory of Homes for Sale plunging by 32.3%, and the Months Supply of Inventory down by 17.6%, we're looking at a market that leans in favor of sellers.

Condos & Townhomes in Union County

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Union County Townhouses & Condo Sales in December 2023

December
Dec 2022Dec 2023% (+-)
New Listings 30 27 -10%
Closed Sales 32 42 31.3%
Days on Market Until Sale 40 36 -10%
Median Sales Price* 330,000 427,500 29.5%
Percent of List Price Received* 101.1 103.8 2.7%
Inventory of Homes for Sale 71 56 -21.1%
Months Supply of Inventory 1.8 1.5 -16.7%
YTD
Dec 2022Dec 2023% (+-)
New Listings 627 534 -14.8%
Closed Sales 507 418 -17.6%
Days on Market Until Sale 35 34 -2.9%
Median Sales Price* 300,000 375,000 25%
Percent of List Price Received* 101.6 103.3 1.7%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 1/29/2024

Switching gears to the townhouse-condo market in Union County, the storyline takes an interesting turn! The trends here are slightly different, offering unique insights for potential buyers and sellers in this segment.

Despite a 10% drop in new listings compared to last December, and a notable 14.8% year to date, there's a twist in the tale for closed sales. They've actually increased by a remarkable 31.3% compared to last December! This surge implies that townhouses and condos are hot commodities, likely due to their affordability and appeal to a diverse range of buyers.

Even more impressive is the significant leap in the Median Sales Price - a whopping 29.5% increase to $427,500! This jump far outpaces the single-family home market, indicating a robust demand for these types of properties.

Buyers are also willing to pay closer to, or even above, the asking price, as shown by the 2.7% increase in the Percent of List Price Received. And for those thinking about selling, the market is in your favor. With a 21.1% drop in inventory and a decrease in the Months Supply of Inventory, it's a seller's market out there.

🔑 Key Insight: The townhouse-condo market in Union County is thriving with higher demand and prices. If you're looking to sell, your property might be more valuable than you think. Buyers, on the other hand, should be prepared for competition and act swiftly when the right opportunity arises.

Adult Community Homes in Union County

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Union County Adult Community Sales in December 2023

December
Dec 2022Dec 2023% (+-)
New Listings 2 2 0%
Closed Sales 4 2 -50%
Days on Market Until Sale 68 153 125%
Median Sales Price* 272,500 246,500 -9.5%
Percent of List Price Received* 97.9 103.7 5.9%
Inventory of Homes for Sale 6 3 -50%
Months Supply of Inventory 1.6 1.2 -25%
YTD
Dec 2022Dec 2023% (+-)
New Listings 52 28 -46.2%
Closed Sales 48 19 -60.4%
Days on Market Until Sale 38 50 31.6%
Median Sales Price* 340,000 530,000 55.9%
Percent of List Price Received* 101.6 100.1 -1.5%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 1/29/2024

Now, let's delve into Union County's Adult Community real estate market, which presents a different scenario. This niche market shows trends that are crucial for both buyers and sellers to understand. The number of new listings remained stagnant with just 2 in December 2023, mirroring last year. However, a significant year-to-date drop of 46.2% suggests a tightening market with fewer properties entering the scene.

A dramatic shift is seen in closed sales, which have halved compared to last December and plummeted by 60.4% year to date. This decrease could be due to various factors including demographic changes or specific buyer preferences in this segment.

An eye-opening change is the Days on Market Until Sale, skyrocketing by 125%, indicating properties are taking much longer to sell. It's a signal for sellers to be patient and for buyers, this could mean more room for negotiation. Despite a 9.5% decrease in the Median Sales Price in December, the year-to-date figure tells a different story with a substantial increase of 55.9%. This fluctuation could reflect specific property types or locations driving the market at different times.

Interestingly, the Percent of List Price Received remains relatively strong, even experiencing a slight increase, indicating that well-priced properties are still fetching close to their asking prices. With a 50% decrease in inventory and a 25% drop in the Months Supply of Inventory, the market is tighter, potentially leading to less choice for buyers but a more exclusive opportunity for sellers.

🔍 Key Insight: The Adult Community market in Union County is undergoing significant shifts. Buyers might find fewer options but potential for negotiation, while sellers might face longer sale periods but can expect good value for well-positioned properties. In this evolving market, staying informed and adaptable is key to success!


Union County Real Estate Pulse: Uncovering October 2023's Market Trends

Welcome to our latest real estate blog, where we dive into the intriguing trends shaping Union County's property market as of October 2023. In a landscape constantly influenced by economic forces and consumer behavior, understanding these trends is crucial for buyers, sellers, and investors alike. This month, we're dissecting the data across different housing segments - single family homes, townhouse-condos, and adult communities - to offer a comprehensive view of what's happening on the ground. From fluctuating sales and listings to surprising shifts in pricing, join us as we unravel the complexities of the current market and what it means for you.

Single-Family Homes in Union County

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Union County Single Family Stats for October 2023

October
Oct 2022Oct 2023% (+-)
New Listings 345 359 4.1%
Closed Sales 289 260 -10%
Days on Market Until Sale 35 29 -17.1%
Median Sales Price* 500,000 582,500 16.5%
Percent of List Price Received* 102.0 105.2 3.1%
Inventory of Homes for Sale 809 497 -38.6%
Months Supply of Inventory 2.3 1.8 -21.7%
YTD
Oct 2022Oct 2023% (+-)
New Listings 4,722 3,549 -24.8%
Closed Sales 3,547 2,722 -23.3%
Days on Market Until Sale 31 32 3.2%
Median Sales Price* 515,000 560,000 8.7%
Percent of List Price Received* 104.3 104.5 0.2%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/30/2023

Union County's Local Market Update for October 2023 reveals intriguing trends for homebuyers and sellers. While new listings saw a modest increase of 4.1% compared to last October, the year-to-date figures tell a different story with a significant 24.8% drop. This decline mirrors the trend in closed sales, which have fallen by 23.3% this year.

However, it's not all about slower sales. The market is showing a robust increase in property values. The median sales price soared by a notable 16.5% over the past year, reaching $582,500 in October 2023. This rise is consistent throughout the year, with an 8.7% increase overall. Properties are not only selling at a higher price but also faster, with the days on the market decreasing by 17.1%. Interestingly, the percentage of the list price received by sellers has marginally improved, suggesting that homes are selling closer to their asking prices. The most striking number is the sharp 38.6% drop in the inventory of homes for sale, alongside a 21.7% decrease in the months' supply of inventory. This indicates a tighter market, with fewer options for buyers and potentially higher competition for available homes.

Condos & Townhomes in Union County

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Union County Townhouses & Condo Sales in October 2023

October
Oct 2022Oct 2023% (+-)
New Listings 46 44 -4.3%
Closed Sales 46 38 -17.4%
Days on Market Until Sale 33 38 15.2%
Median Sales Price* 259,500 373,000 43.7%
Percent of List Price Received* 100.9 103.4 2.5%
Inventory of Homes for Sale 114 78 -31.6%
Months Supply of Inventory 2.6 2.2 -15.4%
YTD
Oct 2022Oct 2023% (+-)
New Listings 583 468 -19.7%
Closed Sales 438 334 -23.7%
Days on Market Until Sale 34 34 0%
Median Sales Price* 295,000 360,400 22.2%
Percent of List Price Received* 101.8 103.3 1.5%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/30/2023

The October 2023 local market update for Union County's townhouse-condo segment paints a dynamic picture, especially for those interested in the evolving real estate landscape. Let's delve into what these numbers really mean.

Initially, the market seems to be contracting slightly, with new listings in October down by 4.3% from last year and a more pronounced 19.7% decrease year-to-date. This contraction is mirrored in closed sales, which have dipped by 23.7% over the year. However, the real story unfolds in the pricing dynamics. The median sales price for townhouses and condos has seen a staggering 43.7% leap in October 2023 compared to October 2022, reaching $373,000. This isn't just a monthly spike; the year-to-date figures show a substantial 22.2% increase in median sales prices. This significant uptick suggests a robust demand for these property types, despite the overall decrease in sales and listings.

Moreover, townhouses and condos are selling for closer to their asking prices, as indicated by the 2.5% increase in the percent of list price received this October compared to last. The market is also tightening, reflected in the 31.6% decrease in inventory and the 15.4% reduction in the months' supply of inventory. However, properties are staying on the market slightly longer, with days on the market increasing by 15.2%. 

In summary, Union County's townhouse-condo market is experiencing a fascinating phase. While availability is shrinking, demand remains strong, pushing prices upwards. This scenario presents an increasingly competitive market for buyers, whereas sellers might find it an opportune time to capitalize on the rising property values.

Adult Community Homes in Union County

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Union County Adult Community Sales in October 2023

October
Oct 2022Oct 2023% (+-)
New Listings 4 5 25%
Closed Sales 2 2 0%
Days on Market Until Sale 56 33 -41.1%
Median Sales Price* 343,000 320,000 -6.7%
Percent of List Price Received* 99.1 96.7 -2.4%
Inventory of Homes for Sale 6 6 0%
Months Supply of Inventory 1.4 2.5 78.6%
YTD
Oct 2022Oct 2023% (+-)
New Listings 48 26 -45.8%
Closed Sales 42 16 -61.9%
Days on Market Until Sale 36 40 11.1%
Median Sales Price* 325,000 620,000 90.8%
Percent of List Price Received* 102.1 99.8 -2.3%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/30/2023

Continuing our exploration of Union County's real estate trends, the adult community sector in October 2023 presents a unique scenario. Despite a 25% increase in new listings for the month, the year-to-date figures plummet by 45.8%, indicating a market that's contracting over the longer term. Sales remain unchanged from last year, yet there's a steep 61.9% drop annually, suggesting a cautious buyer demographic in this niche.

Remarkably, while October's median sales price dips by 6.7%, the yearly increase is a dramatic 90.8%, hinting at some high-value transactions earlier in the year. Homes are selling faster in October, with days on market decreasing significantly, yet the annual trend shows a slower pace overall.

The stability in the inventory of homes and the substantial annual increase in the months' supply of inventory suggest a market that's balancing out, offering more choices for buyers but indicating a slower pace of sales. This mixed landscape in the adult community sector highlights a market in flux, adapting to evolving buyer and seller dynamics.


Union County Real Estate Pulse: September 2023 Market Insights

Welcome to our comprehensive analysis of Union County's real estate market for September 2023! In this blog, we delve into the intriguing trends and shifts that have defined the local housing landscape across various property types, providing you with insightful observations and interpretations of the data at hand. From the bustling single-family homes sector to the unique dynamics of townhouses and condos, and the distinct characteristics of the adult community segment, we’ve got it all covered.

Whether you’re a homeowner contemplating a sale, a potential buyer on the hunt, or simply a real estate enthusiast, this update is tailored to shed light on the market’s current state, helping you make informed decisions and understand the nuances of Union County’s real estate scene. Let’s dive in and unravel the trends!

Single-Family Homes in Union County

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Union County Single Family Stats for September 2023

September
Sep 2022Sep 2023% (+-)
New Listings 434 320 -26.3%
Closed Sales 357 280 -21.6%
Days on Market Until Sale 36 27 -25%
Median Sales Price* 525,000 565,000 7.6%
Percent of List Price Received* 102.9 105.2 2.2%
Inventory of Homes for Sale 857 472 -44.9%
Months Supply of Inventory 2.4 1.7 -29.2%
YTD
Sep 2022Sep 2023% (+-)
New Listings 4,377 3,187 -27.2%
Closed Sales 3,258 2,458 -24.6%
Days on Market Until Sale 31 33 6.5%
Median Sales Price* 515,000 555,000 7.8%
Percent of List Price Received* 104.5 104.5 0%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/30/2023

Union County's housing market has shown a fascinating shift in September 2023, revealing trends that both buyers and sellers should pay close attention to. A noticeable drop in new listings by 26.3% compared to September 2022, and a 27.2% decrease year-to-date indicates that fewer homeowners are putting their properties on the market. This scarcity has not deterred buyers, though, as closed sales have only seen a 21.6% decrease, less than the drop in listings.

The market is moving quickly, with properties spending 25% less time on the market before being sold. Despite this rapid pace, buyers are willing to pay a premium, reflected in a 7.6% increase in median sales price over the year and a consistent 2.2% increase in the percent of list price received.

However, with inventory shrinking by 44.9% and the months’ supply of inventory down 29.2%, Union County is facing a significant supply challenge. The market is becoming increasingly competitive, and buyers need to act fast and be prepared to pay top dollar for their desired homes. This trend suggests a strong seller’s market, where demand outpaces supply, pushing prices up and reducing the time homes stay on the market. While this is great news for sellers looking to maximize their profits, buyers need to navigate the market carefully, armed with the right information to make swift decisions.

Condos & Townhomes in Union County

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Union County Townhouses & Condo Sales in September 2023

September
Sep 2022Sep 2023% (+-)
New Listings 58 52 -10.3%
Closed Sales 48 22 -54.2%
Days on Market Until Sale 31 44 41.9%
Median Sales Price* 342,500 367,500 7.3%
Percent of List Price Received* 100.4 101.8 1.4%
Inventory of Homes for Sale 128 82 -35.9%
Months Supply of Inventory 2.9 2.3 -20.7%
YTD
Sep 2022Sep 2023% (+-)
New Listings 537 423 -21.2%
Closed Sales 392 294 -25%
Days on Market Until Sale 34 33 -2.9%
Median Sales Price* 299,950 360,400 20.2%
Percent of List Price Received* 102.0 103.2 1.2%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/30/2023

In September 2023, the townhouse-condo segment of Union County’s real estate market displayed some intriguing dynamics, painting a mixed picture for participants. New listings experienced a 10.3% dip compared to the same month in the previous year, with a more pronounced 21.2% decline in the year-to-date figures, indicating a tightening of available options for prospective buyers.

Interestingly, closed sales saw a 54.2% fall, outpacing the reduction in new listings, and marking a 25% decrease on a year-to-date basis. This suggests a significant shift in buyer interest or purchasing capability, as the absorption of available properties has slowed down substantially. However, it’s not all gloom for sellers, as the median sales price has witnessed a healthy 7.3% appreciation in September and a robust 20.2% increase year-to-date. This indicates that, despite the slower pace of sales, the properties that do sell are fetching higher prices. The percent of list price received has also seen a positive bump, affirming that buyers are willing to meet sellers close to their asking prices.

On the other hand, days on market until sale have risen by 41.9%, suggesting that properties are taking longer to find the right buyer. The inventory of homes for sale and months supply of inventory have both seen significant reductions, by 35.9% and 20.7% respectively, underscoring the scarcity of options available to buyers. In essence, the townhouse-condo market in Union County is currently characterized by a lower volume of transactions, longer sale durations, and higher sale prices. This presents a complex landscape where sellers enjoy higher returns, but may need to be patient, while buyers face limited choices and heightened competition, necessitating swift and decisive action when the right opportunity presents itself.

55+ Communities in Union County

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Union County Adult Community Sales in September 2023

September
Sep 2022Sep 2023% (+-)
New Listings 3 3 0%
Closed Sales 5 2 -60%
Days on Market Until Sale 21 15 -28.6%
Median Sales Price* 200,000 520,000 160%
Percent of List Price Received* 98.2 102.1 4%
Inventory of Homes for Sale 10 5 -50%
Months Supply of Inventory 2.4 1.8 -25%
YTD
Sep 2022Sep 2023% (+-)
New Listings 44 21 -52.3%
Closed Sales 40 14 -65%
Days on Market Until Sale 35 41 17.1%
Median Sales Price* 325,000 652,500 100.8%
Percent of List Price Received* 102.2 100.3 -1.9%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/30/2023

In September 2023, Union County’s adult community real estate segment displayed striking contrasts from the previous year, underscoring unique market trends. While the number of new listings remained static, with no change from the previous September, a decrease of 52.3% in year-to-date listings suggests a stark reduction in available properties for prospective buyers in this specific market segment.

The closed sales metrics provide further insight, revealing a substantial 60% decrease in transactions compared to September 2022, and a steep 65% decline on a year-to-date basis. This notable slowdown in sales activity could be attributed to the limited inventory, as fewer properties are available to meet the demand for adult community homes. However, it's not all about scarcity and reduced transaction volume. The segment has seen a phenomenal increase in property values, with the median sales price skyrocketing by an impressive 160% in September and a staggering 100.8% increase year-to-date. This remarkable appreciation suggests that, despite the lower sales activity, the available properties are highly valued and are fetching premium prices.

Interestingly, while the days on market until sale have decreased by 28.6%, indicating a faster transaction pace for the properties that do sell, the year-to-date figure shows a 17.1% increase, reflecting a more complex, longer-term trend of varied sale durations. The percent of list price received has seen a positive shift, increasing by 4%, which aligns with the trend of properties securing close to or above their asking prices. However, it’s worth noting the slight 1.9% dip in this metric on a year-to-date basis, suggesting that earlier in the year, properties may not have been fetching as high a percentage of their list price.

In conclusion, Union County’s adult community real estate market in September 2023 has been marked by a significant reduction in inventory and sales activity, contrasted by a notable appreciation in property values and a faster pace of sales for those properties that do find buyers. This presents a unique market landscape, where scarcity and high value go hand in hand, requiring both buyers and sellers to navigate carefully to achieve their real estate goals.


Union County Real Estate Market Update: August 2023

Ever wondered how the local housing market in Union County is evolving? With shifts as dramatic as a plot twist in a best-selling novel, 2023 is proving to be a thrilling chapter in real estate. What’s causing these intriguing changes month-on-month? And, with median prices nearly doubling, what's the real story behind the increase?

Dive with us as we unravel the August market stats, revealing tales of rising prices, prolonged wait times, and more. Unpack the numbers, and let's decode what this might mean for potential buyers and sellers in this vibrant community.

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Union County Single Family Stats for August 2023

August
Aug 2022Aug 2023% (+-)
New Listings 399 309 -22.6%
Closed Sales 371 276 -25.6%
Days on Market Until Sale 27 23 -14.8%
Median Sales Price* 545,000 668,500 22.7%
Percent of List Price Received* 104.0 105.8 1.7%
Inventory of Homes for Sale 849 520 -38.8%
Months Supply of Inventory 2.3 1.9 -17.4%
YTD
Aug 2022Aug 2023% (+-)
New Listings 3,943 2,860 -27.5%
Closed Sales 2,901 2,173 -25.1%
Days on Market Until Sale 30 33 10%
Median Sales Price* 515,000 552,000 7.2%
Percent of List Price Received* 104.7 104.4 -0.3%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/2/2023

August 2023 has weaved an intriguing story for Union County's Single Home real estate sector. For potential sellers, the trend suggests it might be a golden window. Wondering why? Despite new listings nosediving by 22.6% compared to last August, the median sales price has shot up a whopping 22.7%, settling at $668,500 from last year's $545,000. It's evident that homes are not just in demand but also fetching a higher value. Moreover, houses are flying off the shelves quicker, with properties spending 23 days on the market before being sold, 14.8% faster than August 2022.

However, for buyers, choices are getting slimmer. The county witnessed a dramatic 38.8% drop in inventory, and the month's supply of homes retracted by 17.4%. While sellers are earning slightly above their listing price, buyers should gear up for intense competition and be ready to pay a premium.

The Bottom Line: Union County's housing market is red-hot, making it a seller's paradise. If you're considering selling, now might be the time!

The Robert Dekanski Team Logo

Union County Townhouses & Condo Sales in August 2023

August
Aug 2022Aug 2023% (+-)
New Listings 55 34 -38.2%
Closed Sales 44 35 -20.5%
Days on Market Until Sale 24 22 -8.3%
Median Sales Price* 300,000 377,500 25.8%
Percent of List Price Received* 100.6 104.8 4.2%
Inventory of Homes for Sale 122 70 -42.6%
Months Supply of Inventory 2.7 2.0 -25.9%
YTD
Aug 2022Aug 2023% (+-)
New Listings 479 366 -23.6%
Closed Sales 344 268 -22.1%
Days on Market Until Sale 35 33 -5.7%
Median Sales Price* 290,000 360,000 24.1%
Percent of List Price Received* 102.2 103.3 1.1%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/2/2023

Union County's townhouse-condo scene has experienced some fascinating shifts this year. Dive in with me to uncover the story the numbers tell!

For starters, the pool of new condos and townhouses for sale in Union County shrunk dramatically from last year - down a staggering 38.2% in August. The year-to-date trend aligns, indicating that sellers might be holding back. What's causing the hesitation? Perhaps the uptick in the median sales price holds a clue. Prices have jumped to $377,500 this August, marking a 25.8% increase from 2022. Sellers are indeed getting a premium for their properties with homes selling for 104.8% of the listing price, 4.2% more than last year.

Despite higher prices, properties aren’t languishing on the market. They're getting snapped up slightly faster than last year. And with the inventory plummeting by 42.6%, buyers have less choices, intensifying the competition. In a nutshell? It’s a sizzling seller’s market in Union County's townhouse-condo sector. If you've been contemplating selling, now could be a golden moment!

The Robert Dekanski Team Logo

Union County Adult Community Sales in August 2023

August
Aug 2022Aug 2023% (+-)
New Listings 2 4 100%
Closed Sales 1 4 300%
Days on Market Until Sale 13 57 338.5%
Median Sales Price* 420,000 828,250 97.2%
Percent of List Price Received* 120.3 101.4 -15.7%
Inventory of Homes for Sale 10 8 -20%
Months Supply of Inventory 2.4 3.1 29.2%
YTD
Aug 2022Aug 2023% (+-)
New Listings 41 19 -53.7%
Closed Sales 35 12 -65.7%
Days on Market Until Sale 37 45 21.6%
Median Sales Price* 340,000 652,500 91.9%
Percent of List Price Received* 102.8 100.0 -2.7%
Inventory of Homes for Sale -- -- 0%
Months Supply of Inventory -- -- 0%

*Data pulled from MLS on 10/2/2023

Union County's adult community housing landscape witnessed some riveting swings this August! While new listings doubled from 2 to 4, echoing a 100% leap, a sharper dip in year-to-date figures by 53.7% leaves us wondering about the long-term trend. But it’s the sales department where things get gripping! Closed sales skyrocketed by a whopping 300% month-on-month, albeit with a significant yearly decline of 65.7%.

Homes are now lounging a bit longer in the market, with the wait time increasing to 57 days — a 338.5% jump from last year. But patience seems to be rewarding sellers with gold, as the median sales price nearly doubled to $828,250! While sellers fetched an astonishing 120.3% of their asking price last year, this year saw a modest 101.4%.

Inventory dipped by 20%, tightening the market, while the month's supply bloated by 29.2%. As we decode these numbers, one thing is clear: Union's adult community real estate is anything but dull!

Stay tuned for more insights!


Union County Real Estate Market Update: July 2023

Union County Real Estate Market Stats for July 2023

Welcome to our comprehensive local market update for Union County! Whether you're a buyer, seller, or simply a real estate enthusiast, you'll find crucial insights here. From the single-family sector to townhouses to adult communities, our July 2023 analysis has it all!

Union County Market Statistics for Sellers & Buyers

Firstly, the housing inventory is gasping for breath, with new listings falling 20.5% compared to July 2022. Year-to-date, we're down 28.2%, making it a strong seller's market. The razor-thin inventory has caused closed sales to fall by 33% this July, affecting year-to-date sales, which have contracted by 25.2%. But wait, there's a silver lining for sellers: the median sales price saw a solid uptick, rising to $595,000—a 5.1% increase over last year. Year-to-date, we're up by 6.7%, which means your equity is likely growing if you already own a home here.

Buyers are facing less competition but at a higher price point. You'll have to act fast, as properties are getting snapped up in about 25 days, down from 27 last year. However, the list-to-sales price ratio has slightly tipped in buyers' favor year-to-date, with sellers receiving just a smidgen less than they expected.

If you're a seller in Union County, you're in a great position to capitalize on the scarcity and likely get over your asking price. If you're a buyer, you'll need to hustle and be prepared to dig a little deeper into your pockets.

Townhouses & Condos in Union County

The number of new listings for townhouses and condos in Union County in July 2023 is nearly halved, dropping by 52.5% compared to the same month last year. Year-to-date, there has been a 21.7% decrease. There has also been a downturn in closed sales, which fell by 8.7% in July and 22.7% year-to-date. This suggests that fewer people are buying, perhaps put off by the reduced inventory and rising prices.

The days on market tell an intriguing story. In July 2023, these homes stayed on the market for an average of 33 days, an increase of 22.2% over last year. However, year-to-date, there's been a slight dip in market duration. This means sellers might need a touch more patience this summer.

Price-wise, there's an anomaly. While the median sales price in July actually dropped by 1.3% to $339,000, the median price soared by 23.3% to $351,500. These price swings could signal seasonal fluctuations or reflect a changing landscape of what’s available in the market. Buyers are still paying close to asking price, as evidenced by a 1.2% uptick in July and a 0.8% increase year-to-date in the percent of list price received. In summary, townhouse and condo sellers in Union County may need to brace for a slower market, but rising year-to-date prices indicate your asset is likely appreciating. Buyers, you have a window of opportunity—fewer bidding wars and more room for negotiation. However, options are limited, so if you see something you love, don't procrastinate!

Adult Community Homes in Union County

The adult community sector in Union County has seen a seismic shift that is nothing short of jaw-dropping. This is truly a landscape-altering trend that demands attention. New listings have fallen by 77.8% in July, and year-to-date numbers have shrunk by 61.5%. Not surprisingly, closed sales have fallen drastically, down 83.3% for July and 76.5% year-to-date. 

However, an absolute bombshell is the median sales price for July 2023: a whopping $1,676,000, marking a gargantuan leap of 533.6%! Year-to-date, the median price is up 66.9%. Clearly, something unique is happening. It's possible that a few ultra-luxury sales have skewed the figures, but this demands scrutiny from both buyers and sellers. While homes are scarce, those that do list are flying off the shelves—sold in just 11 days, a decrease of 56% in the time on market compared to last July. However, year-to-date, the days on the market for adult community homes in Union County have seen a small increase. In terms of what sellers are receiving, the percentage of list price has shot up to 115.6% in July, although the year-to-date figure dipped slightly by 2.9%.

The Bottom Line for July in Union County

In essence, the adult community market in Union County is red-hot but is also experiencing very low availability. Sellers, if ever there was a "Golden Ticket" moment, this might be it. Buyers, if you can find that rare gem, be prepared for a sprint and a higher price tag, but also know that you're investing in a segment that's currently behaving like high-stakes real estate.


Union County Real Estate Market: June 2023

Union County Real Estate Market: June 2023

In Union County's real estate market, we've observed a fascinating shift this June 2023 compared to last year. In this cut-throat housing market, the competition has heated up, reflected by a staggering 39.1% decrease in new listings and a 23.0% drop in closed sales from last year.

However, these contracting numbers have given rise to a sellers' paradise. The median sales price has swelled by 5.1% to $594,025, painting a lucrative picture for homeowners. Despite this, buyers seem slightly more cautious, evidenced by a marginal drop of 0.3% in the percent of list price received. The market is undeniably tightening, with homes spending more time on the market, 26 days this June compared to 23 last year. The inventory of homes for sale has been nearly halved, underlining the heightened competition among buyers. With a 37.5% drop in months’ supply of inventory, Union County's market is currently running hotter than ever, favoring sellers to a significant degree.

Condos & Townhomes in Union County

As we turn the page on the first half of 2023, Union County's townhouse-condo market displays a dynamic tapestry of shifts. A distinct decrease of 33.3% in new listings occurred in June 2023 compared to the same month last year, trickling down to a year-to-date decrease of 16.5%. Sales, despite dipping slightly by 4.1% in June, saw a more significant year-to-date slump of 25.2%. A faster market rhythm echoed as properties spent 18.8% fewer days until sale in June, mirroring a year-to-date contraction of 10.5%.

The scarcity narrative on one hand has shaped a contrasting, optimistic backdrop for sellers. Median sales prices have leaped by a robust 21.5% in June, pushing the year-to-date average up by a whopping 25.6% - undoubtedly, a golden goose for homeowners. Buyers are increasingly willing to pay more, nudging the percentage of list price received upwards. Alas, a dwindling inventory landscape persists with a 33.1% drop in June, shrinking the months supply of inventory by 15.4%. This tug-of-war between buyer eagerness and seller reluctance is sketching Union County's real estate canvas for 2023.

Adult Community Homes in Union County

Diving into Union County's adult community real estate in June 2023, we observe a captivating medley of trends. The number of new listings witnessed a robust surge of 33.3% in June, but the overall year-to-date scenario shows a dramatic drop of 56.7%. Sale closings in June sharply dropped by 75%, echoed by an identical year-to-date decrease.

The quickening pace of the market is evident as properties stayed 68.4% fewer days on the market in June, though, intriguingly, the year-to-date figure saw a small increase of 7.5%. Pricing dynamics have shown an inverse trend. Despite a small 3.6% dip in median sales prices in June, the year-to-date figures have soared by an impressive 49.5%.

Buyers had the upper hand in negotiating terms in June, with sellers receiving 9.2% less of their list price, a trend slightly softened in the year-to-date figure. Inventory remains a concern, dwindling by 62.5% in June, and consequently, the months' supply of inventory plummeted by 41.2%. Buckle up as we delve further into this intriguing market landscape.


Union County Real Estate Market: May 2023

Union County Real Estate Market: April 2023

The Union County housing market of May 2023 showcased some intriguing shifts. A chill swept over new listings, plunging 31.3% from last year's figures. Closed sales similarly saw a drop, diving 9.0% year-over-year, a reflection of the 27.4% decrease in total listings year-to-date. Homes for sale in Union County enjoyed longer market tenures, with a 41.7% surge in days until sale, but this didn't dampen prices.

The median sales price bloomed a rosy 12.4%, even while the percentage of list price received shrunk slightly by 0.8%. A dry spell hit inventory, down a staggering 44.2%, intensifying the market's scarcity with the supply of inventory dipping 28.6%.

Home seekers, brace yourselves — this market's not for the faint-hearted!

Mixed Trends for Condos & Townhomes in Union County

The market for condos and townhomes in Union County during May 2023 hinted at a mixed bag of trends. New listings went down a notch by 1.6% from the previous year, paralleled by a year-to-date decrease of 11.9%. On the brighter side, closed sales bounced up, celebrating a 17.1% increase, despite a significant year-to-date reduction of 30.7%.

While homes took a slightly longer four-day vacation on the market, the median sales price enjoyed a 3.9% hike, leading to a significant 24.5% year-to-date growth. Despite receiving a smaller slice of the list price, inventory contracted by 13.9%, leading to a 14.3% rise in supply.

Gear up, homebuyers – a dynamic market awaits!

Days on Market & Median Sales Prices Up for Adult Community Homes in Union County

The adult community real estate landscape of Union County in May 2023 reveals an acute contraction. New listings experienced a sharp dip of 66.7%, with closed sales halving compared to May 2022. The market stretched its patience, witnessing a more than doubled time on market until sale (+104.8%). Despite these shifts, prices for adult community homes in Union County saw a silver lining, with the median sales price soaring by a solid 33.0% year-over-year, culminating in an impressive 45.7% year-to-date growth. However, sellers reeled back their expectations slightly, receiving 1.8% less of the list price.

With inventory plunging 80.0%, resulting in a drastic 72.7% drop in supply, it's clear this market is heating up!


Union County Real Estate Market: April 2023

Union County Real Estate Market: April 2023

This rapid acceleration paints an intricate picture of a market grappling with supply constraints and increased demand. Read on to dive deeper into the intricacies of this fascinating housing market evolution. It's a roller-coaster ride you won't want to miss!

Mixed Indicators for Union County Single-Family Homes

April 2023 has seen an interesting shift in Union County's local housing market. New listings and closed sales for single-family homes in Union County have dipped significantly, down by 34.2% and 32.1%, respectively. The homes aren't selling as swiftly either, with the average 'Days on Market Until Sale' ticking up from 36 to 42, a rise of 16.7%. 

Amid these trends, homebuyers can find a silver lining. The median sales price has risen by 8.3% to $550,000, hinting at a seller’s market. However, with the percent of list price received shrinking slightly and the inventory of homes for sale plunging by almost 40%, buyers might find themselves in a tight spot. Buckle up for an exciting property journey in Union County!

Prices Surge for Condos & Townhomes

While new listings for condos and townhomes in Union County have seen a contraction, sliding down 24.1% from last year's figures, and closed sales also taking a significant dip of 55.6%, the story is far from gloomy. On the contrary, buyers are more willing to pay premium prices, as demonstrated by a remarkable 27.7% surge in median sales prices compared to the same time last year. These trends suggest a market where supply is contracting, but demand remains strong, leading to price increases.

Interestingly, the percentage of list price received has remained relatively stable, with only a marginal decrease of 0.7% year-over-year. This stability indicates sellers are managing to command prices close to their expectations. Notably, the year-to-date percent change reveals a positive 1.6% increase, cementing this trend of sustained seller confidence.

The time taken to close a deal, however, has seen a modest increase, with properties staying on the market for 44 days on average, a 25.7% increase from last year's 35 days. Yet, year-to-date figures show a marginal 2.3% decrease, suggesting a relatively steady selling pace in 2023. The inventory of homes has decreased by 21.2%, keeping the month's supply of inventory steady at 2.2. This sustained level indicates a balanced market leaning towards a sellers' market due to shrinking inventory. Stay tuned as we continue to watch these trends in Union County.

Adult Community Homes: Selling for a Premium

The Union County adult community housing market experienced dramatic shifts in April 2023. Listings and sales took a sharp dive, dropping by 66.7% and 90.0%, respectively, from 2022. The sales slowdown is also mirrored in the year-to-date figures. Homes are selling faster, evidenced by a 48.3% reduction in days on the market. However, the market has become notably pricier. The median sales price for adult community homes in Union County skyrocketed by a staggering 309% to $1.45 million thanks to one closed sale, and this trend is persistent in the year-to-date median increase of 30.3%. Interestingly, sellers are receiving slightly less of their asking price, which could indicate a possible market adjustment in the future. Inventory is tightening, adding further complexities for potential buyers.

If you’re thinking of buying or selling a home in Union County’s dynamic real estate market, The Robert Dekanski Team is ready to help: contact us today for any and all of your real estate needs!

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

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