August 2020 Spring Lake Market Review

My market analysis for August showed home sales doubled with eleven homes sold at an average sale price of $2,679,086. The average list price has stayed fixed above three million dollars at $3,198,784 for all of 2020. The number of days on the market dropped by more than a month down to 73 days, which is the lowest it’s been since June. 

There were 43 active homes listed for sale and 17 new listings in the month of August. Out of these active homes, 37 of them were listed above $500,000. As I anticipated in last month’s review, these statistics reflect a sustained interest in this luxury market as activity continued through the end of the summer season. These past six months have helped us realize the true value of a home as buyers search for spacious living arrangements with additional bonus rooms and private outdoor space.  

Currently, there are 42 homes for sale or coming soon and 34 homes are pending sale. It should be noted that this Spring Lake market analysis also includes Spring Lake Heights.

This information was obtained through MORR Flex MLS and according to their service, it is deemed reliable but is not guaranteed.