Total Homes Listed is Up Again

Just the facts, in my opinion

The back-to-school season typically means a slowing of the market for a couple of months, and this year is no different. So far this year, we peaked in June with closed sales at 873 homes, with July being at 695 and August at 654. That number should dip again for September. Total homes listed is up again for the 3rd month in a row and now stands at 691... which is still 57% lower than last year's 1,612 but a promising trend in the right direction. We are also down from our average peak sale in May of 782K to 701K in August. The past five months have seen the median home sales price in the 520K range.

All in all, these are good signs. I've personally been a part of negotiations on the buyer side that the sellers will regret not being more agreeable too so that we will be fighting that mindset for a while. However, sellers have had their way for a year and a half, and it seems more and more that that party is over for the time being. Well-priced homes are still selling very quickly. However, the overpriced homes are sitting now, which is an excellent sign for balance in the market.

As always, call me for any reason and I'll be happy to help!

- Thomas D.