Real Estate News

Weekly Market Snapshot: Mar 5- Mar 11, 2021

This market calls for Weekly Updates.

More properties continue to come on the market at a steady pace. And New Listings continue to outpace Sales. The market is shifting! Buyers are starting to have choice!  Average sold price and the sold to list price ratio are both down from last week too. I am always pleased to see these new properties coming on the market. Balance may be on the horizon.

Inventory is still low, but steadily increasing, and demand is still high. Most new listings still have a few offers on them when they sell and as we see, sell for on average 4% over asking price. The trend of “holding offers to offer night” is starting to pass on some properties. Offers are being reviewed anytime on some new listings. Some properties holding offers are not selling on their offer night and those Sellers then have to re-evaluate their strategy.

Buying is becoming less competitive! Stay positive buyers!

Last Weeks Numbers:

▪️ Avg Sold Price: $835,421

▪️ Avg Sale Price/ List Price: 104% - Median: 103%

▪️ Avg Days on Market: 9 - Median: 6

It will be very interesting to see how the coming weeks unfold, and if New Listings continue to come on the market at a greater rate.

It’s still a great time to sell! If you know anyone CONSIDERING SELLING, now is a great time! Do not “wait until spring”. Contact me today!

It’s is still a strong Sellers Market with low inventory and strong and competitive buying demand.

We have changed how we do some things to work in a safe and responsible manner. Please let me know if I can help in anyway, I’m here to serve.

Be safe and be well!

Share this News

B   L
Brian Lafazanos
Brian Lafazanos
Do you have questions?
Call or text today, we are here to help!