For May 2019, the real estate market was relatively stable compared to the 5-year average for the month of May. New Listings was flat, with 114 homes listed this past May. Closed Sales were up slightly, with 41 sales in 2019 compared to the 5-year average for May of 40. New Pending Sales were down slightly, with 44 in May 2019 compared to the 5-year average of 45. Active Listings remain lower than previous years, with 430 reported in May 2019 compared to the 5-year average of 471. Average List Price for active listings last month was $455,721 compared to the 5-year average of $437,655 in May. On average, homes sold this year have sold for 94.7% of the list price - that's up almost an entire percent from home sales in 2018. Price is key in our market!!
Sellers, now is a great time to take advantage of the high market activity! Inventory is still low, and while there are still a solid amount of new listings, there are buyers looking for specific homes in every segment of the market. Your home may be just what they're looking for! Upgrades and recent renovation work appeal to buyers looking for move-in ready homes. Inventory of lakefront townhomes and condos with a boat slip is extremely low right now. If you own a lakefront townhome or condo now is an opportune time to list! Your agent can help you price your home correctly according to its current market value and unique features that may attract buyers. Our agents are two times more productive than agents at any other local brokerage - let their knowledge and proven experience work for you! Fill out this form for a free Comparative Market Analysis of your property!
Buyers, now's the time to start your real estate property search! Buyer competition will only increase as summer progresses. August and September tend to see larger increases in pending sales. Get ahead of the curve and get familiar with available properties and the area now! Developing a relationship with an experienced local agent can make all the difference in getting the property of your dreams. You can get set up on automatic alerts to learn about new properties and price reductions the moment they happen! Your agent can not only help you find the best property for your needs, but they're also your expert negotiator and in-person assistance when it comes to writing an offer and handling inspections.
Summer is here and the market is heating up! If you're interested in more information or looking to talk to an agent about buying or selling, feel free to fill out an online contact form or give us a call at 301-387-2000 for more information!
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