What's Happening?
In Marion County, the median home listing price for September remained unchanged at $299,900 compared to the previous month. This represents a 1.7% decrease from September 2024's median price of $305,000.
According to Realtor.com, the median home in Marion County was 1,681 square feet, listed at $182 per square foot, a 3.8% decrease from the previous year. Homes in the area were on the market for a median of 80 days, slightly longer than the previous month's 78 days and significantly longer than the national median of 62 days. The report also notes an increase in new listings, with 1,000 homes newly listed in September, up from 920 in September 2024.
Why It's Important?
The stability in Marion County's median home listing price amidst a slight year-over-year decrease indicates a potential plateau in the local housing market. This stability can affect both buyers and sellers, as it suggests a balanced market where neither side has a significant advantage. The longer time homes spend on the market compared to the national average may reflect cautious buyer behavior, possibly influenced by economic conditions or interest rate changes. The increase in new listings could signal growing seller confidence or a response to buyer demand, providing important context for real estate stakeholders.
