Here’s how the stats have changed between April and September.
In today’s market update, let’s take a look at how the stats from September of this year compare to April:
First of all, our inventory is up 50% from what we had in April, going from 820 homes for sale to 1,258. Prices have also gone up—not incredibly high, but the median sale price is now $265,000, where in April, it was $252,500. Closed sales have also risen a little bit from 1,036 in April to 1,111. That makes sense since if the inventory was low, there wouldn’t be that many homes to sell.
Pending sales indicate what’s going to happen with actual sales in the next 30 to 60 days. Pending sales dropped from 1,250 in April to 1,216 in September. This shows that we have fewer buyers.
“Now is a great time to list your home.”
One puzzling piece of information is that our days on market is down to 15 days on average, whereas in April, it was 23 days. But how can that be? If we have less inventory and a solid pool of buyers, why would there be that big of a difference in the numbers? Perhaps buyers out in the market now have a stronger sense of urgency, wanting to purchase their homes before the holidays.
Regardless, now is a great time to list your home. Sales are still strong, and we are nowhere close to being in a buyer’s market. If you’re interested in selling your home, or you’d like more information about the market in your specific area, give me a call. I’d be happy to inform you about the trends in your neighborhood and help you come up with a game plan that fits your circumstances.
