Today we are covering the November and December numbers to give us a good grasp on how the market is faring overall. Let’s start with the total sales for the month of November.
Sales: In November, 877 homes and condos sold. That was down from the 916 that sold in October….but was a significant increase in sales year over year. In fact we saw more than an 18% increase in detached home sales when compared to 2015. In December, 953 homes and condos sold…an increase from November and a slight increase year over year!
Inventory: With the holiday season over, we are expecting more and more homes to be coming on the market over the next few months and a big surge come spring! A lot of homeowners believe that’s the time to sell and while it IS a great time to sell, there will be more competition. Let me give you an example through a glimpse of what happened to inventory last year. In January of 2016, 1264 homes and condos entered the market as new listings. By June, that number was 1880 homes and condos. You can see that huge increase in inventory over those few months. That means your home has to win what I like to call the “Price War and Beauty Contest” in order to be one of the homes selling each month during that busier time of year. That means price your home well, with the help of a knowledgeable, experienced agent like myself, and get your home show ready! Next week I’m going to share with you some tips on how to do that.
If you're looking to buy or sell, call me today at 238-3272, 238-3272 or email me at cheryl@cherylmarlow.com.
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