“How's the Market?" MLK edition

“How's the Market?" is the question most frequently asked of us Realtors, and with good reason. The housing market is a reliable indicator of the overall health of the economy, regardless of whether you're buying, selling, or investing. As we continue into the New Year, I'll continue answering the question by sharing Monday morning updates on housing market activity in the geographical area shown above.

I hope you take time today to reflect on Dr. Martin Luther King’s legacy, and the eternal example he left for all of us to emulate.

This week’s numbers mirror the activity level from the week prior. It will be interesting to see if the pace picks back up again after the inauguration.

Between Thursday Jan. 7th  and Sunday, Jan 10th:

• 35 properties came on the market:
• 28 detached properties, $349,900 and  $1,749,900
• 7 townhouse priced at $390,000 and the other at $1,030,000

During  the same period 

• 22 detached properties went under contract 
• 11 of those were on the market 7 days or less, and of those
• 5 went under contract in 3 days or less

If you’re contemplating selling, these statistics are strong proof that proper marketing and pricing will get you under contract at numbers you may have never dreamt of. 

If you’re contemplating buying, work with an experienced agent (like me)  that can guide you through the pre-offer steps you must make in order for your offer to stand out in what’s often a multiple offer situation. 

Market data can only get you so far, you need a guide (like me) to use it to your best advantage. If you’re contemplating venturing into the market, whether selling, buying, or investing, I’m here to help.