Inventory in Allendale has held fairly steady in this rolling three-month view, with about 10 active listings and 6 new listings, both up from a year ago. Homes sold have surged compared with last year, jumping from only 1 sale in late 2023 to 7 recent sales, and pending sales are also sharply higher. Even with more activity, months of supply has tightened to 1.8, much lower than a year ago, and the market is still classified as a seller’s market.
Prices are adjusting amid this increased turnover. The typical home value over the latest three-month period is about $1.03 million, down compared with a year ago, while the median list price is slightly higher year over year, suggesting sellers are still testing higher asking prices even as closed values ease.
Time on market and negotiation trends highlight shifting leverage between buyers and sellers. Homes are taking longer to sell than a year ago, with the median days on market now around two months, yet nearly half of recent listings have still gone off-market within two weeks. At the same time, the average sale-to-list price ratio has slipped below 90 percent and no recent sales closed above list price, pointing to more room for buyers to negotiate. With these mixed signals across inventory, pricing, and timing, both buyers and sellers in Allendale can benefit from Agent Pronto’s help connecting with a local agent who understands the latest trends.
