HAPPY VALENTINES DAY!! My present for YOU is a brief snapshot of where the market is at ytd over last year! The above images show you a quick and brief snapshot of this year versus last year for BOTH sold and active inventory!
FIRST let’s talk ACTIVE inventory!
- Currently there are 3,308 current listings versus last years 3,321 active listings so inventory is UP about 1.4% NOT huge but people are staying on market..
- The average price is ALSO up but more significantly; about 5.71% which equates to about $12,000.00 which feel about right to me as a listing agent.
- Lastly, I want to point out WHEN we get hut with MOST of our inventory… it is MAY, so if you are a seller this means you may want to talk strategy about how to stand out amongst the crowd and start prepping your home for sale now.. On average most of my sellers meet with me months before pulling the trigger. AND, if you are a buyer this shows you when most inventory hits the market which can be BOTH a positive and a negative for you depending on your overall real estate goals. From a negotiations standpoint you are most vulnerable; but from a choices standpoint you are least vulnerable.
NOW, let’s talk SOLD data!
- Currently, there have been 1.721 units sold versus 1760 sold ytd for the 12months prior. That equates to a decrease in sales by 39 units OR 2.21%
- The average price is up but by less than the average listing price. It is up by 3.82% which equals $8.208 dollars.
- The average list to sell ratio is also up by .67%. Last year the average listing to selling price was 92.47% and this year the average selling price is currently at 93.10 % and that equals more $ for the sellers bottom line.
- The average Days On Market ( DOM ) is DOWN compared to the previous 12months by 18 days or 3.86%. The average DOM for Feb 2019 – Feb 2020 is currently at 152.29 and the average DOM for Feb 2018 – Feb 2019 was 170.69. More good new for the seller.
- Lastly, what does this mean for a seller? Well, it means you need to position yourself strategically so you can stand out against the competition. While the market has a lot of positives happening we have to be cautious not to overreach which is why you need to be strategic with positioning and price because an error in this market could help someone else sell before you. So, get started early and listen to the advice of your REALTOR to make certain your home is tip top and ready to sell and not just get listed! I would LOVE to help!