What are Prices Doing?
Average sales price ($354,000) a increase of 3% from July 2018. Sellers are now happy with prices or have decided that now is a good time to move. Some of life's choices say that it's time to do it. How about you? Are you thinking of moving?
With our overall amount of inventory we are still in a sellers market. Inventory has actually increased but just slightly. Homes actually closing is actually down.
Market time for homes going under contract for July is 49 days. If you think that 49 days is high I would advise you make sure your home shows the best in your particular price range and you will 'win' with an offer. Many sellers don't get the correct information from their agent on how to get their home ready for today's buyers. I can show you how to make the most money & not waste your time showing your home for one minute more than it has to. Preparation is key!
Home prices averaged 98.3% of list in July.
Forecasters hope that the lowering of interest rates will spur sales along, gosh I hope so. Mortgage rates are great & many people are refinancing their homes too.
So let's talk about the national scene - the top real estate city turns out to be LasVegas this time with a 6% increase over last year. Chicago actually did well with a 1.7% increase. Chart below.
Contact me for questions on your neighborhood and the most current market details so you can make an informed decision. No matter what the market, I'll get the job done!