I’ve checked over the numbers from May, and I want to share five interesting statistics about the market in this latest update.Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price EvaluationToday I have a market update to share with you that includes five super cool statistics about the state of our market.
1. We have 5.4% fewer single-family homes listed, comparing the end of May 2018 to May 2017.2. The number of units sold is down from 1,962 units to 1,910, which constitutes a 2.65% drop. This decrease is caused by the lack of inventory, not by the lack of demand—as you might have seen by now, buyers in the market are hammering listings with multiple bids.3. The median days-to-offer is 14 days. This means that it’s taking roughly two weeks for listings to receive offers.4. The median sales price is $440,000. This is a $35,000 increase from last year, or 8.63%, which is great news for sellers. What’s more, based on market trends, I don’t see this changing for at least two or three years.“It’s taking roughly two weeks for listings to receive offers.”5. The median sales-to-list price ratio is 98.83%. To explain, if a home was put on the market for $100, on average, it would sell for about $98. However, if you hire the Quail Group to sell your home, we’d sell it for $101.
If you have any questions about the market with respect to how it will affect buyers and sellers, feel free to reach out to us. I, or anyone else on my team, would be happy to help you out.