The market is still Hot
The Market continues to move fast, however, it is slower than it has been in the last six months.
- Months’ Supply of Inventory is 0.9, the same as this time last year, and is still historically low.
- The percentage of closed sales selling for above list price was 41% in October, down from the peak of 63% in June, but it is still very competitive out there for properly positioned homes. (Price, Condition and Location)
Just under 2/3rds of the homes that sold in October 2017 occurred with less than 15 days market exposure. Buyers in the market are knowledgeable, and move quickly for correctly priced homes.