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We have some shocking numbers for you today! The market is all over the place, but thankfully, I have some numbers that bode well for the future of real estate in our area.
Single-family home sales are up 1.8% compared to this time last year. They’re also up 17.7% year to date. It’s actually a lot lower than where most people thought it would be.
Recently, the Sun News reported the TRID affected this course of events last month. This new regulation slowed down the mortgage process, so a lot of October’s closings got pushed into this month. The last two weeks have been incredibly busy as a result!
Residential sales above $300,000 increased by 24.8%. Residential sales between $200,00 and $300,000 increased by 23.8%. We’ve seen sales rise in both markets recently and we couldn’t be more thankful.
Condos increased by 8.3% and 10.4% year to date. Click here to view a full report.
An important thing to keep in mind from last mind was the overall median sales price. It increased by 10%! That’s the biggest jump we've seen since the housing recovery started. It hasn’t been in the double digits for long.
If you’re thinking about buying or selling a home, regardless of your price range, give us a call! We need inventory. We need buyers. We can give numbers and dig deeper into them with you in person if you're interest.
We look forward to hearing from you soon!
