Whats Happening in Real Estate 1/2/20-1/9/20

As we Begin the new decade we take a look back at some market statistics that have transpired over the last year. Seeing the average original list price starting in the millions for homes and dropping 18% having a median selling price in the $800K range shows how pricing your home right matters in the long run. This is why we at the TCB Team make sure to always bring comparable of what has sold in the area of the potential listing when we are pricing homes. As you can see the supply of homes dropped 1.32% while demand increased .11% showing that home owners are waiting to sell while buyers are ready to buy. You can also see that active listings, number of contracts, number of closed units, absorption time and average sold price have all decreased. This means that houses that are going on the market are just sitting there and are taking more then 8 months to sell. This in turn are losing the home owners hundreds of thousands of dollars. This is why we preach make sure whoever you decide to work with brings with them comparable over the last 3-6 months of what has sold in your area so you won’t end up being a bad statistic.