A Market Update for the End of Summer

What can you expect from our real estate market over the next few months? We’re here to let you know.

Thinking about selling your home?

Thinking about buying a new home?


Today we’re going to talk all about the summer market: what happened, what it means for you, and what you can expect as we transition into fall.

There are five long-term indicators that show how our market is doing, along with one short-term indicator. The long-term indicators include:

  • Inventory is down from last year.
  • The rate at which inventory is accumulating is down.
  • The number of closed transactions is up.
  • The median price point is up.
  • The list-to-sale price ratio is up.
ALL LONG-TERM INDICATORS POINT TO A STRONG SELLER’S MARKET.

All these long-term indicators point to us being in a strong seller’s market, but the short-term indicator is different. Over the last seven days, we’ve started to see the number of new listings outpace the number of pending transactions. We’ll keep an eye on this trend to see if it continues. You should keep an eye on it as well.

If you have any questions for us about the market or anything else about real estate, give me a call or send me an email. I look forward to hearing from you.

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How's the Delaware Market Finishing in 2016?

The year is finally winding down, so I wanted to give you a quick update on the market. Inventory is still low, giving sellers a great chance to get a great price for their house.

Thinking about selling your home?

Thinking about buying a new home?


The fall market looks to be wrapping up for the year, so today I wanted to give you a closer look.

When you compare this year to last year, we're essentially looking about the same. Inventory is down slightly from 2,505 units to 2,437, indicating that homes are selling faster than they're being listed.

This is a good sign for sellers.

Inventory this year is still hovering around five months of supply, which is basically a balanced market. Settle volume is down slightly from 501 units to 493, which indicates that buyers might not be getting homes as quickly as they have in the past.

THE MARKET NEEDS INVENTORY, MAKING NOW A GREAT TIME FOR SELLERS.

When settle volume goes down, it's a good sign for prices. It means that there's still demand for inventory. This will continue to drive the price increase, which we've already seen go up from $226,000 to $228,000 on average.

List-to-sales price ratio is exactly the same, with sellers getting 94.7% of asking price. You should expect a few points to come off your list price, but that's been commonplace forever.

Simply put, the market is still strong this year and not many things have changed. It looks like we'll still be strong heading into the spring, too. The market needs sellers, so if you've had any thoughts about selling, don't let the weather or the season deter you. Thanks to low inventory, now is an excellent time to get a great price for your home. You have motivated buyers in the market slogging through the cold, sloppy conditions outside because they so badly need to buy a home.

If you've got any questions or you're interested in talking about selling your house, give me a call or send me an email today. I'd love to hear from you!

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What’s Happening in the Fall Market?

In our current market, inventory is down and prices are up. As the weather turns colder, we’ll probably see this trend intensify.

Thinking about selling your home?
Thinking about buying a new home?

What’s going on right now in the fall market? Let’s take a look at the numbers from the month of September and see how they stack up against September of last year:

  • Inventory has decreased from 2,587 homes to 2,450.
  • Inventory accumulation—the number of months it would take to sell through the existing inventory—has also decreased from 5.6 months to 4.9 months.
  • The number of settled properties has increased from 524 to 538.
  • The median sales price has increased from $220,000 to $224,000.
  • The sales-to-list price ratio has decreased from 94.6% to 94%.
Overall, this information indicates that there is currently more demand than supply. Why is the sales-to-list price ratio going down? Sellers are starting to realize that the market is favoring them, and they’re increasing their asking prices accordingly; however, they may be getting too aggressive, resulting in them giving a little bit more away in negotiations than what they may have originally thought.

THE MARKET IS FAVORING SELLERS.

As we start to enter the colder weather months and we lose time off the daylight clock, you’ll start to see the majority of the home searching activity shift over to the weekends. You should also see fewer homes on the market, which could mean an increase in prices due to the low inventory.

If you have any questions about what’s going on in the market right now, please feel free to email me or give me a call. I look forward to hearing from you!

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How the Middletown Market Has Improved in a Year

Summer is nearly over, but the summer real estate market isn’t. We’ve got an update for you today complete with the latest numbers for the Middletown market.

Thinking about selling your home?

Thinking about buying a new home?


We’ve got a quick summer market update to share with you about how the housing market is doing right now in the Middletown area. To look at how the market is doing, we look at the numbers and figures for the most recent months vs. the numbers we saw at the same time last year. Here’s what we found:

Available homes are down by 9% from this time last year. Inventory is getting thinner.
The median price for homes has increased by $7,000 since last year.
The list-to-sales ratio has improved by ⅓ of a percent. Sellers are getting more for their homes.

YOU CAN GET TOP DOLLAR FOR YOUR HOME NOW.

We are shifting more towards a seller’s market, which is great news if you’ve been thinking about listing. If you have any questions for us or you’re interested in getting your home on the market, give us a call or send us an email. We would love to hear from you.