Midtown Land Market Overview
Midtown Land Market Highlights
As of May 5, 2025, the land market in Midtown has demonstrated notable activity, reflecting both buyer interest and fluctuating trends.
- Over the past month, the number of active listings has remained constant at 3.
- The average price for these active listings has significantly risen to $1,999,999, compared to an average of $1,073,333 three months ago.
- Meanwhile, days on market for active listings have decreased to an average of 105 days, a notable improvement from 152 days three months prior.
Curious how the Midtown Land market has changed over time?
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Midtown Land Market Report
An In-Depth Look at the Midtown Land Market
The Midtown land market presents intriguing insights as of May 5, 2025. Currently, the situation appears dynamic, particularly with the active listings and pricing strategies.
The number of active listings has remained stable at 3 listings, indicating a consistent level of supply in the market. This figure contrasts starkly with previous metrics, particularly when comparing it to 3 months ago, where the average price hovered around $1,073,333. The new average price of $1,999,999 reveals a substantial rise, suggesting strong demand or a shift in the type of properties being offered.
An essential measure, the days on market (DOM) for these active listings currently stands at 105 days, which signals a reduction in the time it takes for properties to find buyers compared to the 152 days seen 3 months prior. This decline in DOM suggests that properties may be selling faster, potentially indicative of heightened buyer interest or improved pricing strategies from sellers.
Despite this increase in active prices and the decrease in DOM, it's noteworthy that the months of inventory remains at an astonishingly low 0.0. This scarcity of available land may signal an opportunity for sellers to capitalize on current demand as limited options can lead to competitive bidding among buyers.
Looking back, the market over the past 6 months has also undergone notable shifts. Six months ago, not only was the DOM slightly lower at 111 days, but it faced a backdrop of a more extensive average pricing of around $799,915 for active listings. The rapid increase to the current average of $1,999,999 reflects changes in market sentiment or enhancements in property characteristics contributing to overall value appreciation.
Over the last month, while the activity remains robust, the absence of sold listings also raises a few questions. There have been no recorded sales in the recent 30 days, highlighting an area where potential buyers may be actively looking, but not transacting, perhaps due to pricing meeting resistance or simply a momentary market pause.
This combination of increasing prices and a low inventory alongside a moderate DOM presents a complex yet promising landscape for potential sellers. Buyers might need to act decisively, given the current cost dynamics, but with patience, negotiating leverage could still be possible as properties settle into values reflective of buyer sentiment and comparable sales.
Brian Adamski, Realtor
Trusted Name in Midtown | Professional 5-Star Service
480-405-1265
