Local Real Estate Market >> In a Nutshell
2016 as a whole was a year to remember in our local real estate market. We were floored at the results! Rolling into January can sometimes bring a bit of a slowdown in the market, and although we did see a decline in sales and contracts last month, the long-term year-over-year stats reveal an uptick in those areas.
Bottom line: we’re incredibly optimistic about 2017. Here’s why:
- Sales are up 15%, and contracts are up 17% over last year at this time. Buyers are active and ready to purchase their next home.
- Inventory is relatively low. Buyers have less to choose from, so sellers can list with confidence.
- Prices are finally increasing. For a long time, they held steady, and toward the end of 2016, they began to rise.
All of these points lead us to believe that it is not a question of whether a house will sell this year, but how quickly and for what value? A robust marketing plan and a careful sales analysis are the keys to selling at maximum potential price. (We can provide both…)
Thinking of buying or selling real estate this year? Let us know. We’d be honored to guide you through the process!
Stay tuned for more Market Trends… right here on Harrisonblog.