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Buyer Activity and Sales = UP
Inventory and Selection Is Excellent
Low-Low-Low Mortgage Rates
- Strong Seller’s Market Below $500,000
- June Sales = UP 14.9%
- Year To Date Sales = UP 12.4 %
- Inventory and Selection Is Excellent
- Low-Low Mortgage Rates
- Seller, buyer and agent activity is brisk. ShowingsAppointments and Open House activity is strong.
- 1 in 3 new listings were placed Under Contract in 7 Days Or Less
- 6 in 10 new listings were placed Under Contract in 30 Days Or Less
- Average Days On Market before placed Under Contract = 40 Days
- Median Number Of Days On Market before placed Under Contract = 17 Days
- Median List Price placed Under Contract = $371,500
- Average List Price placed Under Contract = $493,146
Q. Why is the market stronger than last year?
A. 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 Buyer’s Market above $500,000.
- It’s a keenly competitive Seller’s Market 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 graphs and let me know if you have any questions or if I can be helpful📲