Today I want to bring you a quick look at how our market is faring right now. So, what’s been going on recently?
Over the summer, home sales continued to soar. Sales are up 14% compared to this time last year, and home prices have gone up as well.
According to chandlerreports.com, home prices have actually risen by 6%, though specific prices will vary slightly depending on your specific subdivision. You can look at how things differ depending on municipality here.
Another notable statistic is the rise of overall home sales, which have increased by 21%. Additionally, home sales over $500,000 are up 28%. Home sales over $1 million, though, are the same as they were in 2016.
Two other things that haven’t changed much are interest rates and inventory.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.