As I mentioned last month, although the number of ACTIVE listings is larger than we've seen in the past couple of years, historically, it remains a relatively small number and we remain in a seller's market. That being said, homes are staying on the market for much longer than we've gotten used to and there may be fewer multiple offers and fewer buyers paying over asking price, so sellers need to price their homes appropriately for the current market. An infographic that I posted today (Here’s Why It’s Still a Sellers’ Market) provides a good visual explaining today's market.
While homes are staying on the market longer, they are continuing to appreciate. A recent article that I posted (What’s Actually Happening with Home Prices Today?) says our current market is "decelerating," rather than depreciating, as "home prices continue to appreciate, although at a slower or more moderate pace."
There are many factors that affect the housing market, including rising interest rates and a looming recession. However, for those thinking about selling, this remains a great time to do so. For those who are looking to purchase a home, increased inventory and slowing demand makes this a good time for you, as well. The important thing is for both buyers and sellers to understand our changing market. Please visit my website regularly for up-to-date information about sales and for great informative articles.
The information below is current as of 9/2/22.
Click on charts to enlarge.
ACTIVE LISTINGS
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| SCCL - SINGLE FAMILY RESIDENCES |
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SCCL - CARRIAGE HOMES AND VILLAS
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TREE TOPS
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UNDER CONTRACT
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SCCL - SINGLE FAMILY RESIDENCES
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| SCCL - CARRIAGE HOMES AND VILLAS |
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TREE TOPS
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LISTINGS THAT CLOSED IN JULY AND AUGUST
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| SCCL - SINGLE FAMILY RESIDENCES | |
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| SCCL - CARRIAGE HOMES AND VILLAS |
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TREE TOPS
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