Here is an update of my 9/23 post. The numbers in BOLD are todays (11/17) numbers while the regular type are from my 9/23 post.
Active Listings Total Listings Average Asking Price Average Days on Market
Single Family 128 111 $627K $647K 141 111
Multi Family 9 9 $467K $453K 89 132
Condos 94 87 $364K $376K 145 159
Homes Under Agreement Total Listings Average Asking Price Average Days on Market
Single Family 25 27 $641K $557K 110 81
Multi Family 4 4 $435K $422K 285 58
Condos 19 23 $630K $562K 56 111
Homes Sold in Last 6 Months Total Average Asking Price Average Actual Price Avg Days on Market
Single Family 193 176 $537K $561K $522K $544K 90 83
Multi Family 6 9 $472K $419K $424K $393K 240 235
Condos 83 65 $339K $323K $327K $313K 118 116
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So, what does this tell us?
The inventory of Single Family homes is down, Asking Price is Up and Days on Market is down. There is some good news in the SOLD section for Single Family Homes as well. The Actual Sold Price has gone up $22K and Days on Market is down 7 days.
The Multi Family market. Prices are down pretty much across the board. Days on Market for Active listings has gone up while DOM for Multi's Under Agreement took a huge dip. DOM for Sold Multi's was pretty much unchanged but the Asking and Actual prices are down.
The Condo Market had a decrease in inventory, increase in Days on MArket and a decrease in the Actual Sales price.
If you are thinking of selling your house make sure you price it properly. It is a business transaction not a personal deal. While your many happy years in your house are real and all the work you have put into your house over the years have added value, the Sell Price will reflect what the market will bear. There is a lot of data available to determine that number. One last thing about pricing....it is a fact that houses which are over priced take longer to sell and get a lower Sales Price than if it were priced appropriately when first listed.
If you are in the market to buy a new home, work with a realtor who can help research comparable home sales so you make an intelligent offer.
This report was complied using data from MLSPIN. It does not include FSBO.
I'd love to hear comments and questions.
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