Let's dive even deeper than this. Let's begin by looking at a year over year comparison of specific real estate data that will help us understand what our local markets are doing compared to the rest of the country. 

AUGUST New Listings:

We start by looking at the NEW LISTINGS that came on the market in August and we begin with 2017, where we see there were 469 NEW LISTINGS that came on the market. In August of 2018, we find an increase of +10.9 percent with 520 NEW LISTINGS. The following year in August of 2019, we decreased by -1.3 percent with 513 NEW LISTINGS. 

AUGUST Homes for Sale:

We again, start by looking at August of 2017, where we see there were 993 HOMES FOR SALE. In August of 2018, we find an increase of +3.0 percent with 1,023 HOMES FOR SALE. The following year in August of 2019, we decreased by -12.4 percent with only 896 HOMES FOR SALE. 

AUGUST Pending Sales:

Let's view August of 2017, where we see there were 368 PENDING SALES. In August of 2018, we increased by +11.7 percent with 411 PENDING SALES. The following year in August of 2019, we increased by +13.9 percent with 468 PENDING SALES. 

AUGUST Median Days on Market:

Let's view August of 2017, where we see there were 14 MEDIAN DAYS ON MARKET. In August of 2018, we stayed the same with 14 MEDIAN DAYS ON MARKET. The following year in August of  2019, we increased by +35.7 percent to 19 MEDIAN DAYS ON MARKET. 

AUGUST Months Supply of Homes for Sale:

In August of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 3.0. In August of 2018, we slightly decreased by -3.3 percent to 2.9 MONTHS SUPPLY OF HOMES FOR SALE. The following year in August of 2019, we decreased by -17.2 percent to 2.4 MONTHS SUPPLY OF HOMES FOR SALE. 

So there is your comprehensive LOCAL look at the real estate market. If you are thinking about purchasing a home, please reach out to the Linda Hall Team. We'd love to assist you!!