"These numbers indicate a slight cooling of the market."

The next chart at 1:26 in the video shows the average price per square foot for the past 15 months, and it’s been on a steady increase. We’re now up to an average of $321 per square foot; in some neighborhoods, we’re seeing 20% to 35% appreciation. At 1:50, you can see the average list-to-close ratio for the past 15 months, and we’re hovering at 104% right now. The average home is selling at $28,000 over the list price. The average days on market is only 12 at the moment. 

At 2:11, the chart shows the months of inventory for the past 15 months, and we only have around two weeks of inventory these days. 79.9% of homes are selling with multiple offers in our present market. If you’re a buyer, we’re seeing historically low interest rates, and indicators suggest they may slightly increase over the next quarter, so take advantage of how low they are today. If you’re a seller, I’ve never seen a hotter seller’s market, but no one knows how long it will last. If you’re considering selling, I would think about doing so sooner rather than later.

If you have any other questions about our market or real estate in general, give us a call or visit our website.