Here’s what you need to know about our local real estate market.
Now that fall has started, how is our real estate market doing? Today I want to go over some of the numbers with you and explain what they say about the future of our market.
First off, the number of closed transactions increased by about 35% year over year. On top of that, we’re still seeing plenty of multiple-offer situations, and sellers are getting around 99% of their list price.
On another note, supply has gone down. This time last year, we had about four months of inventory; now, we only have one month. That’s a decrease of 58%! In September, we’ve seen more properties leave the market and go under contract than properties enter the market. All this information taken together shows that we are still in a strong seller’s market.
If you have questions about today’s video or any other topic, please call or email me. I am always willing to talk.