The local housing market took another big hit to end 2022. The 92 homes sold and 93 sales pending to end December both marked the fewest in at least 3 years, though the average sale price remained steady.
The 92 sales for the Greater Owensboro Realtor Association service area were 33 fewer than the month prior, and 80 fewer compared to November 2021.
“It’s no surprise December sold less units than the year before,” said GO Realtors President Devin Taylor. “We’ve been trending in that direction for the last four months, and I don’t expect a huge change in January. We are seeing pre-pandemic numbers in homes sold and active listings. As of December 31, 290 properties were available. This provides a much calmer and more strategic buying environment.”
While days on market remained steady at 72, the 290 active listings were the second most of 2022 (trailing only November’s 318) and is 136 more than December 2021.
The average sold price in December was $226,257 — a 16% increase year over year. However, the sales volume came in $12.8 million lower at $20.8 million. The median price of active listings continued to rise 13% over last December coming in at $192,450.
Matt Schell, GO REALTORS President-elect, said there is no cause for concern.
“Units may be down, but value is up,” Schell said. “December showed another month of increased market value for the GO Realtors service area.”
Current active listings can be found at owensboromls.com. GO REALTORS serves five counties: Daviess, McLean, Ohio, Hancock, and Grayson. Statistics reflect all service areas.
