If inventory continues to grow throughout the month, I'll be keeping an eye on our average days on market and sales to list ratio. With more homes available, buyers may find less competition on any given listing, which could decrease their sense of urgency, and make it more likely that a list price offer will win them the home. The result of this could be homes sitting on the market a bit longer in some cases, and our sales to list price ratio moving closer to 100%.
That being said, this week's statistics certainly don't signal any seasonal slowdown. Our 11 recorded sales sold at an average of 12.3% over the asking price, and at $1,096 per square foot. But if we carry 50-70 homes for sale closer to the holiday season, I'd expect the market to slow down just a bit.
No comments:
Post a Comment