What’s going on with the real estate market? Is it hot, is it not?
Well, now that we have 7 months of statistics in the books for 2016 it seems like a great time to do a review and see what's really going on. Here is how it breaks down:
The inventory level has matched the same statistics that we saw last year in 2015, however Closed Sales have decreased 3.9%. Yet even with the decrease in sales our Average Sales Price has increased 5.5%.... How is that possible? Well, statistics don't show this but having been involved in the market every single day, I believe we have a logical answer for this. We are seeing an increase in demand for properly priced homes that show well. Meaning, we don't have enough sellers selling properties that are in good / move-in condition. And the properties that are in good condition are selling for higher amounts and increasing our average sales prices.
What does this mean for buyers and seller? (Answered below in our buyers and seller advice)
Author:Joseph Arendsen Phone: 760-672-0174 Dated: August 3rd 2016 Views: 65 About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...
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