Market status: Wow, what a crazy market.!! Even with a sales decreased in numbers for July, it’s still HOT for both Sellers AND Buyers. The market is still on fire!!! And in some price points under $450,000, it’s becoming increasingly difficult to find some homes!
The biggest market problem right now: overall lack of inventory. It’s pretty serious
‘If you are planning to sell or buy – you need to consult with me ASAP!’
July 2018 Dollar Value of Homes Sold: WOW! up 14.4% from a year ago. Down 10.6% from last month. This is normal for July.
July 2018 Closed Sales: Up 8% from last year, down 7% from last month.
July 2018 Average Home Price Sold: Up 8% from last year to $308,000, down 3% from last month.
WHAT’S YOUR HOME REALLY WORTH?
July 2018 Average Days On The Market: Down to 58 days, that’s the issue here: homes are selling fast – and faster than last month.
July 2018 Discount price: About 1.5%. You see what’s going on here? Sellers have ‘the’ edge, but buyers can still buy with a small discount, but it’s diminishing – it’s tight. Buy and don’t argue too much.
July 2018 Market Numbers: 15,840 active listings on the market (very, very, very low!!!), 8,000 new contracts, and about 8,344 sold in the last 30 days. An incredibly very low inventory! And strong sales! The market is selling fast!!!
Recommendation: You see it, like it, then buy it… fast. Look now, look tomorrow: gone
July 2018 The Total County Absorption Rate: down to 2.2 months of inventory, which means houses are selling fast and faster!! And inventory is being absorbed!
Want to know how your city, area code or subdivision or area is doing? Send me an email… at richard@richardbazinet.com and get your report.
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Richard Bazinet pllc, MBA, CRS, ABR
Smart Real Estate. Sellers, Buyers & Relocation.
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