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What’s Happening in Our Real Estate Market?

Now that we’re into the second quarter of 2018, it’s time to take a look at how our market fared in the first quarter.

We’re three months into the year, so we wanted to bring you a quick update on the numbers that we saw in the first three months of the year for our real estate market.

In January, we saw an increase in our active inventory of 9.1% from where we were at in January 2018. The number of sold homes dropped by 18.8% as well, which is as big of a drop as we’ve seen in a long time.

In February, our inventory increased by 8.1% from February 2018 and the number of sold homes actually went up by 12.8% from last year.

In March, we also saw an increase in inventory of 6.8% and sold homes were down by 0.6%. That’s more or less a flatline, but it’s definitely something to pay attention to.

As a whole, we’re down 1.7% from where we were at the end of the first quarter in 2018. However, our median price is still rising and actually increased by a robust 8.9% in the last year.

We don’t normally see quite as drastic of a change as we’ve seen in the last few months, so you’re going to want to keep an eye on it. We do these every month and are paying close attention to what’s going on.

If you have specific questions about your home and what these numbers mean for you and your personal situation, give us a call or send us an email. We’d be happy to help you out and answer any questions you may have.

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