Inventory has decreased by 29.2% from 4,572 units to just 3,238. This number includes everything under contract, so right now in our MLS, we have just over 1,700 homes available that aren’t under contract.
The number of sold homes rose by 25.3% from 809 homes to 1,014 homes. This shows that more people are buying homes and fewer people are listing them. That puts upward pressure on prices and makes it very challenging for buyers to find a home right now. For sellers, this is wonderful news. We’ve had sellers list their homes and get 30 to 50 showings in just a few days.
Whether you’re thinking about buying or selling your house, now is the time to act.
The median home price rose by 14.8% to $239,950. The average price rose by 10.6% to $297,943. To give you some context on those statistics, way back in 2009 when I first started in real estate, those numbers were closer to $140,000 or $150,000. Prices have almost doubled in the last 12 years!
Whether you’re thinking about buying or selling your house, now is the time to act. We have fantastic programs that can help sellers make their transitions easier, and for buyers, we can help you take advantage of our historically low interest rates. If you have any questions, don’t hesitate to reach out to us. We’d love to help you.