A Market Minute

Sept 26 - Oct 3, 2024

In the last 7 days there have been....

13 new listings, exactly equal to last weeks listing number.  Prices range from $74,900-$549,000. The median price of the new listings are $245,000. Again, exactly equal to last week.

7 price decreases, down slightly by (3), with the median price adjustment of $10k. Same as last week.   Av. DOM: 94 increased again by almost half. The average days on market was in this range for the past several weeks prior to last week. 

25 closed transactions, which increased significantly by (15), with a median sales price of $223,425 also decreased significantly.

14 pending transactions, double from last week,  with a median price of $322,400 Holding steady compared to last weeks numbers. 

3 canceled listings

1 back on market 

0 price increase

6 expired listings 

0 coming soon listings

You may be wondering what does all this market stuff mean for me????

Well that depends….

If you are a buyer in this market wondering if it is the right time to buy, or have been waiting for the rates to come down, it would be a good idea to get yourself positioned to get serious and into the market. If the rates continue to trend downward, we will see a spike of buyers returning to the market that have been biding their time for a mortgage rate decrease. What this will do is drive the home prices up again, as the demand will quickly outpace the supply in our local market. Don’t wait, live your life today, and pursue your dreams of either owning a home or an investment property. Reach out to your favorite local real estate advisor to take your first steps.

If you are considering selling your home this will be a great time to get prepared for getting it ready to market. If you need to sell your home before winter, the time is now. WINTER IS COMING!!!! The market will que up this fall and your home will be in a good position to sell. If you don’t have to sell yet this fall, begin to prepare your home to sell for a strong spring market. Your favorite real estate professional will be able to offer you a consultation on how to prepare ahead and keep the stress of the process minimized. The more prepared you are the more ease you will have as you move through the selling journey.

If you have no plans of moving, you should know that your home is continuing to appreciate at a very desirable rate in our local area, building equity, and keeping your investment safe. NICE JOB securing your future. 

Bottom Line....
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Until next week....

W