New construction continues to pick up helping to increase inventory in this tight seller’s market.  September also saw an increase in lower priced, more affordable homes on the market.  Despite increasing interest rates, the market is remaining strong with homes selling quickly and at continually higher prices. It is still a great time for homeowners who wish to sell!

September Market Quick Facts

• 2,132 homes sold, up 5.9% from a year ago (down from August’s 2,821 sales).
• Selling fast: 64 days on market
• Nearly 14% of sales were for more than the original listing price.
• $215,000 median sales price, a 2.9% increase over Sept. 2017.
• Average sales price increase to $256,108.
• 3,158 new sellers listed their home, a 38.2% increase over September 2017.
• 9,181 total inventory, equating to 3.6 month’s supply (well below five- to six-month balanced market) making it a seller’s market
• Of the 9,181 in inventory, 5,059 are listed for less than $300,000 and 2,592 are priced below $200,000.

 

Click to Read NEFAR’s September 2018 Market Stats to See How Your Neighborhood Fared

Click to Stay Updated on Your Home’s Value In The Market