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BUYERS

Selection Remains Excellent.

Mortgage Rates On The Rise, Move Swiftly.

Below $500,000 = Seller’s Market.

Above $500,000 = Buyer’s Market.

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SELLERS

Below $500,000 = Seller’s Market.

Above $500,000 = Buyer’s Market.

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Talking Points

• There are 830 active listings to choose from.  $169,00 to $7,000,000.
• There are only four properties for sale below $200,000.
• For Sale listing inventory is down 13% compared to last years selection at this time. This is positive news for sellers, less inventory means less competition between sellers.
• For buyers, less inventory means less selection and more competition between home buyers for prime properties.
• Average Days On Market for August active listings is 73 Days On Market.  Up 5 days compared to July Days On Market.
• The Average Active List Price = $775,150
• The Median Active List Price = $489,000
• The Average List Price of properties placed Under Contract in July  = $479,600
• The Median List Price of properties placed Under Contract in July = $400,000
• Important!  Of the 213 sales in June, 52.6% sold in 31 days or less.  112/213
• Average Days On Market for listings placed Under Contract in April = 44 Days On Market.
• We expect steady showing appointment activity and Open House traffic through August.

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In Conclusion:

Sellers: Competition among sellers remains fierce, especially in the Buyer’s Market of homes priced over $500,000.

We expect buyer activity to remain steady through September and begin to soften as we enter the fall and winter season.

52.6% of the listings that went under contract in July were on the market less than 31 days.  New listing with excellent marketing and pricing position are selling fast.  Especially under $500,000.

To become a successful seller in this market requires smart strategy and an All-In mentality. All-In for both the listing agent, and the seller.

Buyers: Selection remains excellent today, but will shrink as summer ebbs. Shrinking inventory brings shrinking selection.  For Prime Properties, buyers should anticipate that competition between buyers for properties below $500,000 will remain strong.

Mortgage rates and monthly payments remain beautifully low, but on the rise.  Motivated Sellers are eager to hear from you. It’s a safe and smart time to make your move.  If you’re considering a move, the sooner the better.

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Listing Inventory Month-By-Month.

 

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2018 | Listings By Month and Price Range

 

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2017 | Listings By Month and Price Range

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Listings Placed Under Contract (Sales).

 

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   2018 Sales By Month and Price Range

  2017 Sales By Month and Price Range

 

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       Months Supply Of Inventory By Price Range.

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In Conclusion:

Sellers: Competition among sellers remains fierce, especially in the Buyer’s Market of homes priced over $500,000.

We expect buyer activity to remain steady through September and begin to soften as we enter the fall and winter season.

52.6% of the listings that went under contract in July were on the market less than 31 days.  New listing with excellent marketing and pricing position are selling fast.  Especially under $500,000.

To become a successful seller in this market requires smart strategy and an All-In mentality. All-In for both the listing agent, and the seller.

Buyers: Selection remains excellent today, but will shrink as summer ebbs. Shrinking inventory brings shrinking selection.  For Prime Properties, buyers should anticipate that competition between buyers for properties below $500,000 will remain strong.

Mortgage rates and monthly payments remain beautifully low, but on the rise.  Motivated Sellers are eager to hear from you. It’s a safe and smart time to make your move.  If you’re considering a move, the sooner the better.

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 Click HERE To view/download/print/share the full market report info.