What's Going On In The Market?!

Over the past month, we saw a return to increased sales volume with inventory levels improving and prices showing signs of moderation while remaining higher than last year. Overall, single-family home sales, total property and total dollar volume all rose. Pending sales increased 8.9 percent. The market remains steady across the board and it is indeed still a sellers market. If you are a buyer there are still historic interest rates but we will see steady increases over time.

What’s Going On In The Market:

– Single-family home average price increased 14% o $380,233

– Days on market went from 51 days last year to 26 days this year

– 1.9 months of inventory, which is down from 2.6 months last year

– Single-family lease homes fell 10.2%, while the average rent for single-family homes rose 9.6%

– Still a sellers market however, the clock is ticking upwards with an increase in interest rates!