Today we’re talking about the changes we’ve seen in the real estate market, as well as giving an overview of where things were at as of this September.
In September of this year, 9,454 new listings came onto the market, compared to 9,938 in 2016. This is a 4.9% decrease.
The number of active listings year over year has also decreased, going from 21,791 in 2016 to 20,806 in September of this year.
However, sales have been basically flat. The difference between last year and this year was just a .002% increase from 7,436 to 7,456.
Like new listings and active listings, inventory has also decreased. In September of this year, there were 2.79 months of inventory, whereas last year there was 2.93 months.
All of this indicates a shortage of homes for sale in our current market, especially in lower price ranges. Nevertheless, demand is still strong.
These conditions combined with the fact that rates are still low means that now is a great time for sellers. It’s a great time to cash out as a seller while the market is still in your favor.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.