SUPPLY OF HOMES ON THE MARKET

February 2016 and February 2017

 

    This shows how many months supply of houses are on the market.  These numbers reflect an average length of time a home was on the market before selling.     

                                                                                      

Price Range

February 2016

February 2017

Change

$1,000-$100,000

4.1 Months

3.2 Months

-22%

$100,000-$150,000

2.5 Months

1.7 Months

-32%

$150,000-$200,000

2.9 Months

1.9 Months

-34.5%

$200,000-$250,000

3.6 Months

2.2 Months

-38.9%

$250,000-$300,000

4.0 Months

3.3 Months

-17.5%

$300,000-$350,000

6.6 Months

3.1 Months

-53%

$350,000-$400,000

5.2 Months

5.4 Months

3.8%

$400,000-$450,000

9.2 Months

4.8 Months

-47.3%

$450,000-$500,000

7.0 Months

5.9 Months

-15.7%

All Price Ranges

 

3.8 Months

2.7 Months

-28.9%

 

The median sales price has increased to $178,000, up 3.3% from this time last year.  Supply has decreased in all the price ranges except the $350-$400,000 range. Supply of homes in the $100,000 to $200,000 is now below 2 months supply while multiple price ranges had 30%-53% decreases in supply.

Our local real estate market is facing decreased inventory.  Homes are selling quickly with multiple offers.  If you have been considering selling, now is a great time.  On the buyer side, be prepared with a mortgage pre-approval and write an offer on your dream home. 

If you ever wanted to sell, now would be an excellent time, we would be thrilled to help you discover the value of your home today!