Real Estate in Review for May 2018
We've seen the first slight decrease in home values this whole year, although it's ONLY a 1.7% decrease from April to May.. it's worth noting. There is still an obvious increase in values from year 2017 to May 2018, at over 7% increase in the average property sale which is recorded at $234,000 for May 2018. In somewhat shocking news the actual amount of sales from 2017 to 2018 for May is DOWN nearly 11%. There are currently a total of 7,486 homes available in the MLS, which was a decrease of inventory by almost 15% from 2017 to 2018 and a decrease in inventory just since last month by 3.3%! Sellers looking or thinking about putting their home on the market - what are you waiting for?? Lack of inventory and a potential in stagnant pricing? Let's get your home sold before it's too late.
For all your potential buyers out there, the interest rates haven't stopped increasing since January of this year, reaching a high average of 4.64% currently. Have you checked to see what your could be approved for to purchase? We have a handful of great lenders we can connect you with to get the best rate and best option for you.