A Fall Market Update

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    The latest numbers from our September 2017 market are in, and today I want to compare them to what we saw during that same month last year.

    Specifically, I’d like to highlight some statistics pertaining to single-family homes. Last year there were 317 new listings, while this year there were 361.

    Of the 317 homes that were listed in September of 2016, 251 were sold. This year, 294 of the 361 listings were sold.

    It is also interesting to note that the average number of days on market in 2016 was 94. This year, that number has dropped to 79 days.

    Homeowners are getting high percentages of their list prices.

    Also, inventory is still low. We currently have 3.5 months of inventory compared to last year’s four months. This indicates a very strong seller’s market.

    As a result of this, homeowners are getting high percentages of their list prices. Last year, owners were getting 97.4% of list price on their homes. Today, sellers are getting 98.4% of list price.

    If you are thinking of listing, now is a great time to do so. But, low interest rates also make it a fantastic time to buy as well.

    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.

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