This week’s numbers: As you can see from the chart below we continue to list about the same number of homes as we sell each week. This trend has been rather consistent for the last year. Dare we say it is the new “norm”?
|Newly Listed||Back on Market||Price Increase||Price Lowered||Under Contract||Closed|
Good news for buyers? In the old way of thinking a decreased inventory would mean an increase in prices. We are not seeing that of late. Selling price seems to have leveled out. Interest rates are expected to raise however, so time is still important.
Good news for sellers? For those looking to sell their home it means there are buyers out there working from a limited inventory. While selection remains varied, buyers are not making unreasonable demands.
If you are thinking about buying or selling real estate in the near future, now is the best time for action.