These are the essential stats for our current real estate market.
Today I wanted to share a brief market update since there are so many things happening in the world right now and people are concerned with how the real estate market is being affected. One question I receive frequently is whether it’s currently a good time to buy or sell. In June, we’ve been seeing signs that people are ready to get back out there and either buy or sell a home.
Pre-pandemic, we would generally see, on average, about 300 sales per month in our area. In the last couple of months, we were only seeing about half that number of sales. However, we’ve been seeing more and more closings over the last 30 days.
“If you’re considering selling your home, it’s a wonderful time to do so.”
The real difference in the past month has been the 349 pending sales. So in the next 30 days, we’ll see that number reflected in the number of closed sales. The most crucial statistic is that there are currently only 447 houses active on the market, which means if no other properties are listed, our inventory will be gone in about 30 days.
So, if you’re considering selling your home, it’s a wonderful time to do so due to the low inventory. If you’re thinking about buying a house, it’s also an excellent time because interest rates are extremely low. However, be prepared to compete over the property you want to buy.
If you have questions about whether now is the right time for you to make a move or anything else concerning real estate, give us a call or send an email. We would love to help you.