Jane Q Agent

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The latest reports for the local area real estate market shows that average prices are plummeting, and the data is showing signs of much lower volume for this time of year.

With an oversupply of inventory and sluggish days on market, coupled with high interest rates, it is a buyers market with deals to be had. Current home owners looking to sell should be considering their homes’ current value and determing if it is better to wait out this downward trend in home prices.

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Local area real estate prices are on the rise, and that data is showing that signs of a retreat or stablization does not appear to be near.

With a drop in inventory and houses being snatched up almost as soon as they are listed buyers can expect to be paying more for homes and need to be on their toes and act fast when they see a home they are interested in.

With this quick upward pressure on price, with no end it sight, we could see ourselves in a bubble going forward.

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This past months report on the local area real estate market shows that average prices are remaining stable, and that data is showing signs of typical sales volume for this time of year.

With a steady inventory and days on market, coupled with balanced sales, sellers can expect an average days on market of 32. However home owners should always be considering their homes’ competitive advantages to stand out to buyers in this market.

Average prices have continued to keep stable. Even looking through the past few years of increased inventory, market prices remain competitive.