Local Market Update 7-17-2022

 

Weekly Market Update!

Local Weekly Real Estate Numbers!

Hi Friends and Colleagues~ The New year is in full swing and real estate activity in our area seems to be picking up! Check it out. (and watch my video)! This past week we saw 20 new homes come on the market. Two went pending in the first week. Only 1 came back on the market due to failed escrows - YAY! We want escrows to be solid and close. We have t total of 85 active listings in our area, ten more than last week. This number should continue to grow as we move closer to the Spring. 10 homes sold last week, fewer than the week before. The average listed and sold price were both down with the average sold price coming in at $19,000 lower than the average list price. This is the highest deficit we have seen since I began sharing these statistics in 2020. Only 10% of the homes that sold last week sold for over the list price. That is the lowest percentage that we have seen. The average number of days on market decreased to 44 this week. The highest priced home sold was $745,000. That's lower than last week and the lowest priced home that sold was for $265,000. That's higher than last week. There were 5 price decreases in our area last week as well. See below the stats for the entire Northeast SAR Region: Watch My Weekly Video Update Here That's what's going on in our area. Please let me know if you have any questions or would like to see other information in the weekly updates. Nan