Welcome back to my video blog! Today I wanted to give you an update on what’s happening in our market.
If we look at the end of the third quarter of 2013, we saw
property values had increased by 20 percent from 2012. Homeowners all benefited
from the appreciating market.
Right now there are 470 homes on the market. This time last
year there were about 600-650 homes listed. That means there are 200 fewer
homes in inventory.
In the past 30 days, from Oct. 6 – Nov. 6, 93 new homes came
on the market, 100 homes went into escrow and 106 closed escrow. With that
information, we calculate we have about a 4.5 month absorption rate. That means
if no new homes came on the market, the entire current inventory would be sold
in 4.5 months.
With such a low inventory, we can expect little selection in
the spring. If you are thinking about buy, now is the time. Give me a call so I
can help you get into your new home for a great price.
Thanks for watching!
