Although homes coming on the market are still selling quickly, with 58.5% selling in 10 days or less, year over year the market is showing that it might be slowing down a bit. Last month we had 255 sales, compared to 295 last year. This is a 13.6% decrease!
Our real estate market may be showing signs of slowing, but buyers are still competing for the best homes simply because there are just not enough homes on the market to meet the demand from the active buyers hoping to buy. Listing inventory is down from 351 homes for sale last year to only 166 at the end of last month. That is nearly 52.7% fewer homes on the market for buyers to choose from. With interest rates at or below 3%, it’s a great time to buy, and with anxious buyers and limited inventory, it’s for sure a great time to sell!