2017 has ended and the data is available giving up a view of what to expect in 2018.
- New listings as of this report are 10,720, and increase of 1.9%
- 4 month supply, a 4.8 decrease [ healthy market has 6 months ]
- Average home sale is 307K representing an increase of 3%
- Listed homes have decreased by 3.1%
- Pending sales currently standing at 7,380 up by 1.7%
- Time a home is on the market until sold is 33 days, down by 5.7%
Our Real estate market didn’t see a slow down due to the Holidays or the winter, we suspect that this trend will continue well in to 2018. A large driving force is that interest rates are projected to be increased again and buyers want to have more buying power.