The 2017 market has been incredible so far, and it looks like that trend will continue in the spring market. If you plan on entering the market, there are three important stats that you should know.
What is going on in the real estate market?
So far, this year has been absolutely crazy. We already have 143 sales so far this year, which is awesome for the residential real estate market. A lot of people think that real estate slows down during the holidays and picks back up in spring, but that is not the case this year.
Now with more than 222 new listings on the market, it looks like we are in for an incredibly strong spring market.
If you are looking to buy or sell this spring, there are a few important stats that you should know:
- The average days on market is 154 days. Take that number with a grain of salt. The average days on market includes $1 million properties as well as $125,000 homes.
- The average sales price is $324,000. That is pretty good for the overall market.
- The average list-to-sales price ratio is 96.6%.
The list-to-sales price ratio is important for both buyers and sellers. When you buy a home, keep in mind that you cannot negotiate the price down too far. As a seller, your home has to look its very best and be priced correctly in order to net most of your list price. If you price your home too high, then buyers will avoid your property and it will sit on the market.
If you have any other questions about our current real estate market, give me a call or send me an email. I would be happy to help you!