Today I’ll be giving a quick update on how our market has been over this latest quarter.
Inventory is still down, and based on this low housing inventory, our sale numbers are down as well. People aren’t buying as much as they were and there’s not as much out there to choose from. It’s improving a little bit, but potential buyers are still hesitant to make a purchase at this point.
While inventory remains low, the average price of a home has risen to $179,000. New construction prices remain around $373,000—permits for new construction are down 22% and things like lumber are going up in price, so new home costs have stayed high.
The average days on market is 54 days. Listings right now are at 4,564, down from last year’s 4,713.
If you’d like to see what homes are out there now or what your home is worth, our team is here and more than happy to help you. Feel free to contact us if you’d like some information or have any questions. We look forward to hearing from you.