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.

Factors like:

• 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