Real Estate in Review for April 2018
No real shocker that values are continuing to increase. The average sales price from April 2017 to April 2018 had a significant increase of over 10% at an average price of $237,000. That's incredible for all of you that purchased your home in 2017! You're quickly gaining lots of equity. If you're on the fence to sell - why even sit and ponder anymore? Your home has MOST likely increased it's value and our team can help you get the most money for your home in a SHORT period of time. Interested in that value? We offer a custom market analysis for you with no further obligation.
While home prices are rises our inventory is decreasing unfortunately. Buyers out there are snatching homes as soon as they hit the MLS due to the lack of active listings on the market. We're down 10% of inventory in 2017, although up a smidge of .4% from the previous month, March 2018. Don't be discouraged by the lack of homes for sale, contact us and let us know what you're looking for - we have a handful of homes that have not quite hit the market yet that MAY fit your needs. Or give us your needs and wants and we can set you up on a search to get the homes emailed to you the minute they hit the MLS.
On average, once homes are listing to pending the current market stat is 55 days before going under contract. This number can vary quite a bit. We're seeing that homes do not last nearly 55 days on the market, more like 55 hours! Ha. This number stims from ALL homes in the MLS, which include homes that have been active and overpriced for nearly a year. Our team prides ourselves with an average 18 DAYS ON THE MARKET for the full year in 2017.
If you're listing your home at $300,000 the likliehood of you getting an offer at or above list price is always possible, but the average home is selling for 97.5% of the list price. That number for a $300,000 home would look like this - $292,500. Very close to asking!
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