What has changed in our market recently and how does it affect you?
It’s time for our monthly market update! You may have heard a lot of news reports about the market these past few weeks, but those are mostly on a national scale. Remember that real estate is local. To keep you informed on your area, I’m sharing a few key real estate indicators that have changed recently and how those have affected the local market.
You can watch the full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:59 — Home sales are down 4% to 5% compared to last year
1:45 — Home prices are up 8.23% compared to last year
2:35 — Listings are taking 2 weeks to sell on average
3:32 — Homes are selling for 101.6% of their list price
4:01 — Inventory is rising
5:44 — Wrapping up
Our market remains strong, and there are no signs of it changing any time soon. We’re still a seller’s market but less so compared to the past several months. Interest rates have slightly dropped, and there is now more inventory, which makes it a good time to buy. If you need more details about our local market, call or email me. I’m here to assist you!
