Exeter Real Estate: Timing Is Everything

If you are looking for a good deal, you should think about Exeter Real Estate.  Many communities around our great state are experiencing higher demand for single family homes.  Homes are selling faster than new listings are coming to the market.  The resulting shortages compared to the demand has resulted in prices trending higher.  Exeter Real Estate is the exception…well…as far as price trends anyway.

Exeter Real Estate Sales Are Up

As we look at the average days on market, we see homes are selling 35 days sooner than last year.  Demand is growing fast.  Home sales are up 8.7% yet new listings coming to the market are only up 5%.  If that trend continues, inventory will suffer which in turn, will push prices upward.  That hasn’t happened yet and unlike a lot of other communities, price trends are lower this year.

Median Sales Price vs Average Sales Price

Median Sales Price is considered a better indicator of price trends because Average Sales Price can be artificially skewed by an extremely high or an extremely low sales price.  Median sales price is the transaction with a sales price in the middle of all the data with half of the transactions having a sales price above the Median and half below.  Average Sales Price is still a benchmark just the same.  Median Sales Price and Median Asking Price are trending lower again this year and yet the market doesn’t seem to be aware that there could be an inventory problem looming…yet.

Timing Is Everything

Mortgage rates are at historically low levels and the likely-hood of them going down in the future is slim at best.  Exeter Real Estate prices are trending lower enabling buyers to take advantage and earn quick equity by getting in now before prices trend upwards.  As evidenced by the growth in demand, prices will trend higher in the near future as well.  See my other => Market Reports

Mortgage Rate History Last 52 Weeks vs Last 52 Years

Looking at 30 year fixed rate mortgage history, we can see rates pushed up sharply about 20 weeks ago which affects buyer’s purchase power.  If rates rise one half of one percent (.5%), it could mean as much as $20,000 less purchase power for a buyer.  Looking at the last 52 years, we see that historically, we are in an era where the rates are at the lowest levels ever.  The time to buy Exeter Real Estate is now and your knowledgeable agent can help you succeed.

If you are on the hunt for Exeter Real Estate, you need to know your => Finance Options.

This Report Brought To You By Marty Patrizi

Marty is a Realtor with the Bean Group and has been buying, selling, building, and renovating properties since 1988.  Marty can be reached for comment or more insight direct at 603-781-4099 or by email marty.patrizi@beangroup.com.