I have a short update to share with you today about our real estate market in 2019. Here’s what you need to know.
Today I’ve got a quick recap for you about our 2019 real estate market as we get further into the new year.
We ended the year just about flat from where we were in 2018. We had less than a 0.5% increase in our average sale price, which ended the year right around $375,000. A flat market is OK, though. We just don’t want a negative market.
Right now, sellers are getting about 95% of their original list price on average, and that number jumps up to 99% when they make a price reduction.
There is a lot of talk out there about what’s going on in the oil industry and how that might affect the market, but all we might see is about 150 additional homes hit the market in February and March. These will probably be upper-end homes. Of course, this is all speculation for now, but I think we’ll end up fine in the end.
Right now, there are about 620 homes for sale on the market, with another 209 under contract. We’ve had 88 homes expire over the last six months, and while that’s a bit above normal, it’s nothing to worry about.
We’ve sold 1,150 homes in the last six months and over 2,700 throughout the entire year. Our average days on market is 46 days for sold listings, and 106 days for what is active. This is normal because those good homes are selling relatively quickly.
If you have questions about the statistics I discussed today or anything else related to real estate, feel free to reach out via phone or email. I look forward to hearing from you soon.
