A seller’s or neutral market? You decide.
Hi guys, the August 2019 real estate sales numbers are out: still in neutral resting on a flat surface.
Again, the inventory level is reflecting a seller’s market, while most other indicators point towards a neutral market.
The inventory for the previous three months has slightly increased, however, is down from a year ago.
The number of units sold is also on the same trajectory. Pricing is a different story.
The actual average sold price is in a neutral pattern ticking slightly down compared to last month, but up from this time last year.
Sellers are beginning to understand our market with asking prices depreciating compared to the previous three months.
A caveat to pricing, homes selling below $500,000 indicates a different market than the whole with higher-end homes skewing the overall numbers.
Below $500,000, we see a market where original asking and sold price is the same with fewer price reductions. Also, homes in this price range sell faster regardless of the reporting county.
The market is not collapsing. Remember we are moving into the Fall/Winter market. Activity tends to slow down during this period.
For buyers, this is a great time to purchase a home. With interest rates low, pricing steady, and sellers with a conviction to sell their home.
What more would you want? From a selfish perspective; maybe more inventory from which to choose.
Sellers, only one word of advice; PRICE YOU HOME CORRECTLY, no games.