Is the market heating up? Is it time to make your next move? Check out February's Market Snapshot below.
Home Buyer's Page
Active listings are down slightly from last month at .7%. Active listings are down 12.9% from last year. Pending listings, sold listings and average days on the market have increased from last month. The average sales price is up 7.2% from last year. Access a full market report by clicking the image below:
What Sellers and Buyers Need to Know
Sellers: As expected, the market is starting to pick up for our peak season. Average sales prices took a slight dip last month after hitting record highs in January. With interest rates on the rise, the buyer pool will start to decrease. Remember, “pretty homes” sell faster and for more money…have your home in tip-top shape to secure the best offer(s) from potential buyers.
Buyers: Inventory remains lower than usual for this time of year, and interest rates bumped up again. It is still considered a seller’s market, so you will often get a good price or good terms (concessions/contingencies), but rarely both. Be prepared to write your offer accordingly.
