The first quarter of 2018 has just drawn to a close, so it’s time for the latest market update.
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The first quarter of the year has just drawn to a close. Sales are strong and our inventory is continuing to shrink. With just 2.3 months’ worth of inventory, today’s level of supply is among the lowest we’ve seen in a decade.
Partially due to this low inventory, we’re currently in a strong seller’s market. Another important factor is that home values are continuing to rise. The average sales price in our market today is $242,000, which is up 9% year over year. Also, homes are now spending an average of just 53 days on the market.
Now is a great time to put your home on the market.
Ultimately, it’s a great time to put your home on the market. Buyers realize that interest rates are on the rise and our current market conditions definitely favor sellers. Homes on our market today are selling quickly and are often seeing multiple offers.
If you have any other questions, would like more information, or want to know how we can help you list, feel free to give us a call or send us an email. We look forward to hearing from you soon.