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.
SEPTEMBER New Listings:
We start by looking at the NEW LISTINGS that came on the market in September and we begin with 2017, where we see there were 486 NEW LISTINGS that came on the market. In September of 2018, we find a decrease of -6.6 percent with 454 NEW LISTINGS. The following year in September of 2019, we increased by +24.7 percent with 566 NEW LISTINGS.
SEPTEMBER Homes for Sale:
We again, start by looking at September of 2017, where we see there were 1,577 HOMES FOR SALE. In September of 2018, we find a slight decrease of -0.1 percent with 1,576 HOMES FOR SALE. The following year in September of 2019, we decreased by -11.9 percent with only 1,389 HOMES FOR SALE.
SEPTEMBER Pending Sales:
Let's view September of 2017, where we see there were 376 PENDING SALES. In September of 2018, we increased by -13.0 percent with 327 PENDING SALES. The following year in September of 2019, we increased by +51.4 percent with 495 PENDING SALES.
SEPTEMBER Median Days on Market:
Let's view September of 2017, where we see there were 16 MEDIAN DAYS ON MARKET. In September of 2018, we decreased by -6.3 percent with 15 MEDIAN DAYS ON MARKET. The following year in September of 2019, we increased by +6.7 percent to 16 MEDIAN DAYS ON MARKET.
SEPTEMBER Months Supply of Homes for Sale:
In September of 2017, the MONTHS SUPPLY OF HOMES FOR SALE was 3.8. In September of 2018, we slightly decreased by -5.3 percent to 3.6 MONTHS SUPPLY OF HOMES FOR SALE. The following year in September of 2019, we decreased by -22.2 percent to 2.8 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!!