One of the reasons most people give for wanting to be a “For Sale by Owner” is they think that they can end up making more money from the sale of their home than they could if they hired a REALTOR. It’s been my experience that, for most people, it just does not work out this way
It is most notable that there is a significant shortage of homes in inventory, which is putting upward pressure on sales prices. This is most likely due to the combination of pent-up demand being released as well as buyers pushing to get under contract in anticipation of rising interest rates. It is also significant that sales volume for the month of April is at a 5-year low and the rate at which home values are increasing is slowing. This could be a potential indicator of the market moving closer to a state of balance as higher interest rates push some buyers out of the market.
The process of building your own home can be difficult and stressful, especially for those who have not done it before. My goal is to employ my knowledge, skills, experience, and contacts to make this is an interesting and rewarding experience for you. Hopefully, when the process is completed, you will feel confident that you made good, informed decisions based upon experienced advice.
This shows a decrease in the number of sales of 127 homes or -7.6%. The median sale prices saw a 12.7% increase year-over-year. There are currently 178 homes on the market with an average marketing time of 92 days. This results in a 0.9-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.
The most significant change to the market is the days on market for active listings is increasing significantly when compared to recent months. While this is typical for early fall market, as well as election years, it does mark a change. The decrease in interest rates will likely bring some additional buyers to market prior to winter as well.
The most significant change to the market is the day on market for active listings is increasing significantly when compared to recent months. While this is typical for early fall market, as well as election years, it does mark a change. The Federal Reserve’s recent announcement of plans to decrease interest rates in September could also be a contributing factor to the slow down in the current real estate inventory.
There are currently 170 homes on the market with an average marketing time of 82 days. This results in a 1.3-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market.
The market for buyers in many market segments under $400,000 is extremely competitive, especially for “move-in ready” properties. Buyers should be prepared to enter into multiple offer situations and discuss offer strategies with the agents prior to presenting any offers.