What the Spring Season Means for Our Market

Spring has sprung, but what does that mean for our real estate market? 

To start, let’s look at the latest numbers from February and how they compare to February 2019:

• The number of homes sold dropped from 1,091 to 1,051
• The average sales price rose from $217,000 to $220,000
• The average days on market rose from 100 to 104 days
• The absorption rates dropped from 2.44 months to 2.18 months
• The number of active listings dropped from 3,600 to 3,200
• Interest rates dropped from 4.37% to 3.5%

I don’t buy into the idea that you have to wait until a little later in the year to take advantage of the market. Whether you’re buying or selling, you can take advantage of it now. 

If you’re a buyer, interest rates are absolutely unbelievable at the moment. If you’re a seller, there are a lot of serious buyers out there, and if you wait until April or May to list, you’ll have to compete against a lot more listings, so put your home on the market now and beat the competition. 

Now for my quote of the day: 

“Your success is based on how many uncomfortable conversations you are willing to have.” - Tim Ferris 

If you need help buying or selling or have any questions about our market, don’t hesitate to reach out to me. I’d love to help you.