Real Estate News

Weekly Market Snapshot: Mar 12- Mar 18, 2021

This market calls for Weekly Updates.

The market appears to have plateaued in recent weeks.  Properties have come on the market at a consistent pace for the last few week.  All the typical measures have stayed relatively consistent in the last we weeks ie Sales, New Listings, Avg Sold Price, Days on Market etc.  New Listings continue to outpace Sales.  Average sold price are down slightly from last week.  The market has shifted from low inventory in January and February to more homes for sale now, but we have not seen the down side of this curve. 

Inventory is still low, but much greater than Jan and Feb, and demand is still high.  Buyers do have more choice now. 
Most new listings still have a few offers on them when they sell and as we
see below, selling 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: $808,086
▪️ Avg Sale Price/ List Price: 104% - Median: 104%
▪️ Avg Days on Market: 9 - Median: 6

It will be very interesting to see how the coming weeks unfold, and if New
Listing 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! 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!

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Brian Lafazanos
Brian Lafazanos
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