With active inventory decreasing, the number of sales increasing, and pricing continuing to rise, we know the market is SHIFTING!
Now everyone may not want to hear that but if you are a seller you may. In the past 2 months we have seen inventory drop from a 9 (nine) month inventory list down to a 5 (five) month inventory list! And what that means is sellers are getting less competition to sell their home and more money when they do. When looking at the year-over-year reports for June there was roughly a 6.1% increase in median sales price!
With fewer homes for buyers to choose from they are forced to pay these higher prices to get into the home they want. Even with these more difficult buyer situations, we still have seen a high demand of buyers, with year-over-year reports for last month showing a 9.3% increase in closed units! I don’t know how fast this shift is going to take to hit full effect but if you are thinking of buying, selling, or relocating in the area, I recommend doing it sooner rather than later!
For the 2018 Q2 Report to show you the shifting market email me @ firstname.lastname@example.org and find me on Facebook as Alex Jusko, Instagram as alex_jusko_realty, and linkedin as Alex Jusko.