How’s The Market So Far in 2024?

by www-bridgegrouptx-com

February Market Update

2024 is off to a strong start so let’s dive into the numbers! Single-family home sales rose 7.6% year over year!

Days on Market decreased from 64 days to 57 days. The number of homes sold is up 7% with 7,500 units sold! The average sales price for single-family homes is up 4.1% to $400,252 in 2024.

Now, let’s dive into inventory. It has risen from 2.5 to 3.4 this year compared to the same time last year. What does this mean for buyers and sellers? The increase in home sales, slight appreciation in home prices and expanding inventory, creates opportunities for both buyers and sellers in the marketplace?

If you have any questions about the value of your home or need help finding the right one, don’t hesitate to reach out. We’re here to take care of you!