Buyer Activity & Sales UP | Inventory and Selection Is Excellent | Low-Low Mortgage Rates
- Seller, buyer and agent activity is brisk. Showings Appointments remain high. Open House visits and home buyer activity is strong.
- Inventory/Selection is excellent. New inventory tumbling onto the market fuels the accelerated buyer demand, especially in the HOT price ranges below $600,000.
- We are experiencing an active and healthy real estate market. Summer selling season will be strong and steady.
- Year To Date sales are UP 10.5 %.
- May sales UP 13.3%.
- Average Under Contract List Price in March = $489,233 | Median Under Contract List Price = $399,900.
- Well positioned listings are selling faster!
- Average Days On Market (DOM) for Under Contract Listings in May = 42 Days | Median DOM = 22 Days.
- 1 in 4 new listings went Under Contract in 7 days or less. 79/273
- 2 in 5 new listings went Under Contract in 31 days or less. 111/273
- It’s a strong Seller’s Market below $600,000.
- Average List Price = $827,772 | Median List Price = $530,000.
- Average Number Of Days On Market (DOM) for Unsold Listings = 65 Days | Median DOM is 39 Days
Why is the market stronger than last year?
Our real estate market is fueled by a bundle of positive external stimulus factors.
- Positive economic growth.
- Job growth and low unemployment.
- Stable oil prices.
- Positive consumer confidence.
- Corporate-relocation moving people in and out (like an Exxon/Mobil).
- Healthy selection.
- Excellent mortgage rates, the lowest since February 2018.
All positive External Stimulus Factors are in place. Our real estate market is healthy and gaining strength.
Buyers. . .
- Selection and buying conditions are excellent.
- It’s a Buyer’s Market above $600,000, and a keenly competitive Seller’s Market below $500,000.
- When you find what you love, move fast.
- Mortgage rates are at their lowest in a year.
Sellers. . .
- While market conditions are improved, one fact remains, half hearted selling-efforts will fall flat faced.
- Supreme interior and exterior merchandising is a must. (Here’s a Checklist)
- Quality and reach in your marketing and promotional strategy is more important than ever.
- Give-It-Away pricing is not required! Competitive pricing is.
- More and more, serious sellers are matched with serious buyers every day.
I would love the opportunity to help you with your real estate needs. Email me at Scott@ScottCulberson.com —–STILL LOTS OF SELLING SEASON OUT THERE.
Scott Culberson, Broker Associate, Better Homes and Gardens Real Estate Gary Greene, Scott@ScottCulberson.com 281-467-4691