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BUYERS

Selection Is Excellent.

Mortgage Rates On The Rise, Move Swiftly.

Below $600,000 = Seller’s Market.

Above $600,000 = Buyer’s Market.

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SELLERS

Below $600,000 = Seller’s Market.

Above $600,000 = Buyer’s Market.

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Talking Points

• There are 921 active listings to choose from.  $155,00 to $7,000,000.
• There are only 9 properties for sale below $200,000.
• For Sale listing inventory is down 13.6% compared to last years selection at this time. This is positive news, 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 active listings 69 Days.
• The Average Active List Price = $773,774
• The Median Active List Price = $498,700
• The Average List Price of properties placed Under Contract in April = $487,817
• The Median List Price of properties placed Under Contract in February = $385,500
• Important!  Of the 222 sales in June, 57.9% sold in 31 days or less.  128/221
• Average Days On Market for listings placed Under Contract in April = 41 Days On Market. Well marketed listings are selling faster and Average Days On Market are drifting steadily lower.
• We expect strong showing appointment activity and impressive Open House traffic beginning after the July 4th holiday week.  As a result we expect the velocity of sales to remain strong through September .

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In Conclusion:

Sellers: Competition among sellers remains fierce. However, due to smaller inventory and selection, selling conditions year to date are improved over 2017.  Especially in the under $500,000 price range.

We expect buyer activity to remain strong through September.

57.9% of the listings that went under contract in June were on the market less than 31 days.  New, well positioned listings 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 not for long. Shrinking inventory brings shrinking selection. For Prime Properties, buyers should anticipate that competition between buyers for properties below $500,000.

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. Competition among buyers will elevate as we enter spring and summer.  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. However, due to smaller inventory and selection, selling conditions year to date are improved over 2017.  Especially in the under $500,000 price range.

We expect buyer activity to remain strong through September.

57.9% of the listings that went under contract in June were on the market less than 31 days.  New, well positioned listings 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 not for long. Shrinking inventory brings shrinking selection. For Prime Properties, buyers should anticipate that competition between buyers for properties below $500,000.

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. Competition among buyers will elevate as we enter spring and summer.  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.