I tell my clients to stop listening to the nightly news. They are talking about home prices in places like Austin, Boise, and Phoenix. Our Local Market prices actually rose last month – Up 3K from November and 10% from a year ago. The median sales price increased in December to $280,000. Real Estate is Local! Click HERE for Full PDF Market Report
While Sales are Slowing :
It took an average 46 days to sell a house in December, 11 days longer than in November and almost double from a year ago. Sales were down 29% from a year ago. New listings are down as well (23% from last December).
Active Inventory is Growing:
Up 3,816 from 2,088 a year ago. Still only a 1.6 month supply. That’s over 2x what there was a year ago, but still a long way from being a balanced market.
During the past two years, we saw homes selling over the asking price but are now selling at 97.7% of the list- believe me when I say – a “normal” number.
Do you need some advice on what to do next..…Call or Text me (317) 625-0655. Let’s put together a winning strategy in this ever-changing market!!!