Although slightly fewer homes were sold, our group saw a 2.4% increase in pending homes in this year compared to last year to date and are on par with last year in terms of closed sales.
The entire housing market is seeing fewer homes listed for sale which is something we also saw locally in this quarter. Compared to the same month last year, we have fewer homes on the market, but staying on par.
On average, homes are staying on the market for 69 days for all price ranges whereas the average number was 64 days last year. This number, however, is lower than the average of 77 days we saw over this past summer.
So, just like math class had taught us, with slightly fewer homes on the market, there were slightly fewer homes sold. However, this doesn’t mean that there still aren’t serious active buyers! If anything, now is more important than ever to start listing your home to get in on the market while it is hot and consumers are confident and serious.