The St. Tammany real estate market is on the rise from last year. The average sales price for Mandeville, Covington and Slidell real estate this year is $224,633. Last year the average sales price was $210,229. That’s a 6.8% home value increase just in the past year!
Also, the time on market is down. This is excellent news for sellers! The average time on market is 80 days YTD. Last year was 93 days YTD. Homes are selling faster – 16% faster to be exact!
So far this year 1,906 homes have closed, which is up from the 1,792 homes sold last year. That’s a difference of 114 more homes closed this year – or 16 per month! This is 6.5% more homes closed YTD than last year.
We at Turner Real Estate Group wish to keep home buyers and sellers informed with the latest statistics. With interest rates climbing and home values increasing, now is definitely the time to buy!