The latest stats from our markets show that we may see a slowdown.

Is the market going to crash? No one knows for sure, but we can point out a few trends. Interest rates are continuing to increase, and buyer activity has slowed. Let’s take a look at all of our stats and see what’s happening in our market.

If you look at the chart at 0:38 in the video, you can see that our active inventory is 1,272 homes, which is an increase from the month before. We also had 2,443 pending and 2,010 closed homes. Sales have decreased, and inventory has climbed significantly.

The graph at 1:23 shows that the price per square foot has gone up significantly. However, economists are saying that this appreciation cannot last forever, so the market may shift soon.

Over the last month, homes sold at 103% of their list price and within 16 days on average. However, there is less buyer activity, fewer showings, and fewer people coming to open houses, so many believe that our market may stabilize.

The last graph at 2:06 shows how many months’ worth of inventory we have. Currently, there are only 0.6 months of inventory in our market. Zero to three months of inventory indicates that we're in a seller’s market, so that is still the case for our market.

If you’re a seller, there has never been a better time to get top dollar for your home. If you’re a buyer, now is a great time to take advantage of our interest rates before they increase further. Whatever your real estate goals are, there’s no better team to help you achieve them. We’ve served over 7,000 families with our unique marketing approach. 

If you have any questions, feel free to call or email us. We’d love to help you.