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Buyer Activity & Sales Trend UP | Inventory and Selection Is Excellent | Low-Low Mortgage Rates
- Seller, buyer and agent activity is solid and accelerating.
- Showings Appointments remain high.
- Open House visits and home buyer activity is strong.
- Phones are buzzing. Email and texts are flying.
- Agents are smiling and walking fast.
- Soon-To-Be-Seller requests for CMAs (Competitive Market Analysis) are rolling in and out.
- Sellers are working hard on preparing their property for sale.
- All signs point to an active and healthy real estate market. It will be a busy spring and summer season.
- Year To Date sales UP 7.6% | March Sales UP 5.5% | February sales UP 10.8% | January sales UP 8.1%
- Average Under Contract List Price in March = $510,367 | Median Under Contract List Price = $419,000.
- Average Days On Market (DOM) for Under Contract Listings in March = 52 Days | Median DOM = 23 Days.
- At the time of this report there were only 4 active listings priced below $200,000.
- Average List Price = $844,699 | Median List Price = $525,500.
- Average Number Of Days On Market (DOM) for Unsold Listings = 73 Days | Median DOM is 39 Days
- It’s a strong Seller’s Market below $500,000. A strong Buyer’s Market above $1,500,000.
Why is the market stronger than last year?
Our real estate market is fueled by a bundle of positive external stimulus factors.
- Positive economic growth.
- Job growth and low unemployment.
- Stable oil prices.
- Positive consumer confidence.
- Corporate-relocation moving people in and out (like an Exxon/Mobil).
- Healthy selection.
- Excellent mortgage rates, the lowest since February 2018.
All positive External Stimulus Factors are in place. Our real estate market is healthy and gaining strength.
Buyers. . .
- Selection and buying conditions are excellent.
- It’s a Seller’s Market below $900,000, and keenly competitive for buyers below $500,000.
- When you find what you love, move fast.
- Mortgage rates are at their lowest in a year.
Sellers. . .
- While market conditions are improved, one fact remains, half hearted selling-efforts will fall flat faced.
- Supreme interior and exterior merchandising is a must. (Here’s a Checklist)
- Quality and reach in your marketing and promotional strategy is more important than ever.
- Give-It-Away pricing is not required! Competitive pricing is.
- More and more, serious sellers are matched with serious buyers every day.
Real Estate Agents. . .
- This market will generate more opportunities to out-hustle and out-perform less committed amateurs and part-timers. When competition heats up, the weak wilt, the strong WIN.
- Winning requires close contact and communication, sharing, serving, solving and simplifying everything with everyone.
- Positive energy and perspective.
- No matter what, always keep those promises. To others and yourself.
- Confidence and a bias towards swift and consistent execution WINS.
- Basically you need to be All In. The good news is, in this market, your winning efforts will be rewarded.
Take a look at these and let me know if you have any questions or if I can be helpful📲