Real Estate

6 Things about the Local Market

• Listings have been flat this past 12 months.
• Sales are up 7% over the same period.
• Put those two facts together and you get a market with 23% less inventory per buyer.
• Yet there are 9,314 homes currently for sale.
• Prices are up 6% from a year ago.
• The median price now stands at $173,000.

Whether you’re buying or selling, let us turn those 6 Things to your advantage.  …call me, “I work harder to make good things happen!”  -Bob

The Metropolitan Board of Realtors (“MIBOR”) just released sales figures for the month of May.  Here are the highlights:

• Sales were stronger earlier this spring buying season than last.
• And yet May closings were up 18% over April’s. (There’s no doubt it’s shaping up to be a strong year!)
• Sales for the past 12 months are up 7% over the previous 12 months period.
• Median sales price continued to increase, sitting at $168,000 for May.
• May sales brought 96.3% of their original asking price, meaning the average house listed at $100,000 actually sold for $96,300.

While supply is tight, there were 9,015 homes for sale at month’s end.  9,015.  That’s a LOT of houses to choose from.  Let me know how I can help you be a new home winner in this tight market environment.  — call me, “I work harder to make good things happen!”  -Bob