May 142 min
Updated: Jun 20
Market Insights:
The real estate scene is still going strong, showing steady demand and some interesting changes in how people buy and sell homes. More pending sales suggest that buyers are feeling more confident, and there's a lot of action happening behind the scenes. On the flip side, there are fewer homes available for sale right now, which means sellers need to be smart about standing out in a crowded market.
Here is a comprehensive overview of the real estate landscape over the past 90 days:
Key Metrics:
Total Closed Sales Count:
Recorded a resilient count of 2,719 closed transactions, demonstrating a notable uptrend of 3%.
Total Pending Sales Count:
Surged to an impressive 3,927 pending sales, showcasing a remarkable uptrend of 20%, signifying robust market activity.
Total Active Listings Count:
Experienced a slight decline to 8,652 active listings, marking a discernible downtrend of -11%, contributing to a competitive market environment.
Months of Inventory (Average):
Maintained equilibrium at an average of 4 months, indicative of a balanced market poised for continued growth.
Days On Market (Average):
Increased marginally to 63 days, reflecting nuanced buyer behavior and strategic decision-making processes.
Sale Price to List Price (Average):
Strengthened to a commendable 95% ratio, illustrating heightened seller confidence and strategic pricing strategies.
Strategic Recommendations:
For Sellers: Now is the time to embrace strategic pricing and targeted marketing initiatives to make the most of the favorable market conditions. By pricing your property strategically and implementing effective marketing strategies, you can attract more potential buyers and maximize your selling potential.
For Buyers: In today's competitive market, it's crucial to exercise diligence and agility when searching for your dream home. Be prepared to act quickly and decisively when you find a property that meets your criteria. Ensure you have your pre-approval ready, as we are in a good market for fast sales, and having financing in place can give you a competitive edge.
Should you require further insights or assistance, please do not hesitate to reach out to me. Your success remains our utmost priority at Coldwell Banker!