What’s Happening in the Fall Market?

In our current market, inventory is down and prices are up. As
the weather turns colder, we’ll probably see this trend
intensify.


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What’s going on right now in the fall market? Let’s take a look at
the numbers from the month of September and see how they stack up
against September of last year:


Inventory has decreased from 2,587 homes to 2,450. 

Inventory accumulation—the number of months it would take to
sell through the existing inventory—has also decreased from 5.6
months to 4.9 months.

The number of settled properties has increased from 524 to
538. 

The median sales price has increased from $220,000 to
$224,000. 

The sales-to-list price ratio has decreased from 94.6% to
94%.


Overall, this information indicates that there is currently more
demand than supply. Why is the sales-to-list price ratio going
down? Sellers are starting to realize that the market is favoring
them, and they’re increasing their asking prices accordingly;
however, they may be getting too aggressive, resulting in them
giving a little bit more away in negotiations than what they may
have originally thought.

“

The market is favoring sellers.

”
As we start to enter the colder weather months and we lose
time off the daylight clock, you’ll start to see the majority of
the home searching activity shift over to the weekends. You
should also see fewer homes on the market, which could mean an
increase in prices due to the low inventory.

If you have any questions about what’s going on in the market right
now, please feel free to email me or give me a call. I look forward
to hearing from you!