Weekly Real Estate Market Update: Current Trends and Insight

New Listings

We currently have 11 new listings on the market, with prices ranging from $99,900 to $375,900. The median price for these new listings is $189,900, providing buyers with a diverse range of options at various price points.

Price Adjustments

In the realm of price adjustments, we’ve seen 8 price decreases this week, with a median adjustment of $20,000. This might present an opportunity for buyers looking for better deals, as sellers are adjusting prices to attract interest.

Days on Market

The average days on market for these properties stands at 76 days. This indicates a steady market where listings are taking some time to sell but not excessively long, suggesting a balanced buyer-seller dynamic.

Closed Transactions

In terms of closed transactions, there have been 9 sales this week, with a median sales price of $330,000. It’s encouraging to see ongoing activity in the market, especially at this price point, which can indicate healthy buyer interest.

Pending Transactions

Additionally, we have 6 pending transactions, with a median price of $223,450. This suggests that buyers are still actively making offers and negotiating sales, which is a positive sign for the market’s overall health.

Other Noteworthy Points

A few other points of interest include 3 canceled listings and 2 properties that are back on the market. However, it’s worth noting that there have been no price increases or expired listings this week, indicating a stable market.

Conclusion

To summarize, the market is stable with new listings, a mix of price adjustments, and ongoing sales activity. It’s a great time for buyers to explore their options and find the right property for their needs.

Be sure to follow along to stay in tune with our local market! See you next week!

~W