Posted in: Market Trends
If you have school aged children or are yourself engaged in educational pursuits, then September is a big month. The 'new' of September often gets folks considering their real estate plans as we say goodbye to summer hot days and ponder how many days we have to spruce up the front porch before the snow hits.
Since the weather changes around here every 10 minutes around now would be the time to touch up any exterior paint or repairs if you are considering a fall/winter sale.
Many of the conversations with folks I have these days is about timing the market. Folks considering a purchase or sale are trying to crystal ball things. We have a sense that the market is stabilizing with many indicators from various industry trends and numbers. At the same time, we have an increase in fall listings that are outshining the positive sales bumps.
Our year to date sales total are up across segments (8.06% up year over year detached, 5.12% up year over year apartments and 11.06% year over year attached). This is a very positive sign. Our year over year numbers are indicating positive movement in most regards. However, the monthly numbers are pointing towards an uptick in inventory and a drop in sales of homes per listings than the same month last year. The yearly and monthly comparable (August 2016 to August 2017) are somewhat divergent. An example is that our Year over Year Inventory level shows a decrease of 7.38% but a August 2016 to August 2017 comparable shows an increase of 20.23%.
There is some seasonal here, but also potentially an opportunity to see a bump in an otherwise positive trending path.
At the same time the benchmark pricing continues to drop in the apartment sector and increase in the detached sector with some mixed numbers in the attached sector.
What does all that mean? Typically we are on a positive trend with a bit of up and down along the way.
Curious to find our opportunity? So am I. If you are considering a purchase or sale please give me a call so we can review your specific details.