The 3 most important aspects of housing trends are the rate of house construction, the number of new homes available, and the demand for homes.
The most important stats that affect home owners who plan to sell in the near future (or those looking to purchase property) are average market time, the average sold price, highest and lowest active listing prices & total sales volume for the community.
Beverly & Lynn will break down the information into simple review. This will help you understand what it means to the community as a whole & you as a property owner.
Detached Single Family Sold properties (does not include contingent or active property market trends) - data from last 12mo:
Average sold price: $428,118
Highest sale price: $842,250
Lowest sale price: $160,000
Number of days on market before contract: 48 days
Number of active and pending listings on the market current: 78 homes/units
Number of sold units last 12 months (feb 2022 - Feb2023): 400
Total number of units / homes that sold: (2022 - 398)
Total sales volume: $171, 247, 354
When you compare and contrast these market trend to other communities and neighborhoods, you will be able to see how much transition is happening, which areas are currently most popular, and how long the market will take to absorb its inventory. The total number of transactions and total sales volume are good indicators for easy turnaround investing or dis-investing
Keep in mind as an individual property owner looking to sell, the market time could be as quick as 2 days. What matters most for the individual seller is how the home visually presents, buyer demand, and the proper pricing strategy.
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