Sept Real Estate Numbers
Real estate is unbelievable. Thats what I always say, simply because its unbelievable great or unbelievable bad. Actually right now its somewhat neutral . We are seeing inventory going up, but then its been incredibly low since 2020. Along with more inventory of course comes long time on the market, and more negotiations as far as closing cost, warranty's, and repairs. I stay on top of the changing market and we are usually ahead of curve on what is coming. We are NOT anticipating a drop in values at all, and we are NOT expecting forclosures to go up drastically. Owners have an all time high as far as equaity and they are NOT going to let their home go unless the economy crashes.
As far as numbers currently, we look at actives vs pending contracts to see the "current" health of the market. For the sake of this report, I used 100k to 1m for our price point, which covers 95% of our inventory. Currently there is 3590 active residential properties. Of these , 2139 are actively for sale. That means 1451 are under contract and moving toward closing. Compare this to a year ago where you had twice as many under contract as for sale.
Bottom line is if you are considering buying or selling, using a top producing agent or team, is always in your best interest, and can possibly save you thousands and negotiations and headaches throughout the process. Also, don't go with the 1st agent you talk to. Do some interviewing. Talk to at least 2-3. There is a HUGE difference in knowledge and the value they bring to your home sell or purchase, which is most likely your biggest investment you will ever make. You will be glad you did .