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Today I'd like to give you a detailed look at what's happening in our local market. When you go out and buy or sell homes, I want you to know what's happening in our market.
As you can see in the chart, 5,318 homes have sold in our area this year, and we've seen a 12% increase in home sales over last year. Also, you can see that we're making a nice recovery from when the market tanked in 2008 and 2009.
The next chart shows inventory over the last few years, and as you can see, inventory is historically low right now. We're currently just below six months of supply, and this is making our market favor sellers.
Active homes for sale have also evened out over the years from when the market boomed in 2005 and when it crashed in 2008.
Lastly, the average sale price hasn't fluctuated too much over the years, but it is trending upward right now. We're currently seeing an average sale price of $204,000.
Our local market appears to be moving in the right direction. The market is stable, and it's very healthy. It's not moving as fast as some sellers want it to, but I feel very good about this market.
If you have any questions or concerns for me, please don't hesitate to reach out to me!
