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What Our Changing Market Means for You

Here’s what you need to know about our local housing market.

What’s happening in our local market? Conditions have been shifting a lot recently, but what does that mean for you? Today we’ll take you through all the latest numbers and explain what they mean for buyers and sellers. 

The current number of homes on the market is up 22% year over year to 3,865. Meanwhile, the number of homes sold is down 1.4% to 11,098, the median price is up 18.2% to $307,375, and the average price is up 14.3% to $362,879. Finally, the average days on market is actually down year over year from 32 to 23.

Over the last few years, the number of homes sold each month, and the median price, skyrocketed. In the first quarter of this year, the trend with home sales started reversing. Each month, we sell fewer homes than the month before. What’s surprising is that despite this, prices are still up. 

“Each month, fewer homes sell in our market.”

However, we aren’t sure how that will last. More supply is heading to our market every day. While this hasn’t affected prices yet, it might in the future. What does all this mean for you? The market is shifting on a monthly and weekly basis. What might have been a good strategy to sell your home 20 days ago could no longer be viable. 

That’s why you should talk to an experienced team if you’re thinking about buying or selling in this market. We’ll let you know what’s happening right now so you can make the best decision possible. Just call or email us with any questions; we’d be happy to help.

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About our blog

Our agents write often to give you the latest insights on owning a home or property in the local area.