Today we’ll be comparing the market numbers from March 2018 to March 2019.
In March 2018, there were 3,216 home sales; this March, there were 2,805 sales. The average sales price of $231,686 rose to $238,762 this year. Homes are spending an average of 62 days on the market year over year.
Last year, there were 4,071 pending sales. This dropped to 3,931 this year. 7,210 homes were on the market in March 2018, and a year later, there were 6,832. Last year and this year both had 2.1 months’ worth of supply.
Since we have less than six months of supply, we’re currently in a seller’s market. If you list your home, it’s important to price your home correctly. I put a home on the market last week and it had 31 showings, 10 offers, and a competitive price. After putting together a spreadsheet and comparing the offers, I was able to get my sellers the best deal. It’s important to look at all the numbers and statistics when making your decision.
It’s a great time to put your home on the market. If you’re thinking about buying, stay tuned—I’ll be sharing some great buyer tips in the near future. If you have any real estate needs or would like more information in the meantime, feel free to reach out to me. I look forward to hearing from you soon.