As an agent, everyday I hear from my clients “what’s happening in the market?” and its such an interesting time. The last 2 offers I wrote both were in multiple offer situations. Last 2 listings I put up had multiple offers within 7-10 days. Also if you compare last year to this year, our inventory is DOWN. Just look at these numbers.. Home prices are up, homes on the market are down and pending..2% down. For more of a nationwide picture..take a look at this article just put out by NAR. https://www.nar.realtor/research-and-statistics/research-reports/nar-flash-survey-economic-pulse
This whole thing is a bit of a head scratcher, but all signs point to this market holding strong!
Median sales price…. May 2020 $ 404,944
May 2019 $ 373,500
Pending Ratio……… May 2020 45%
May 2019 47%
Absorption Rate……… May 2020 1.8 Months
May 2019 2.5 Months
