The Monthly Update - April 2018

Spring Forward!

 

The spring market is here. And while the first week of spring brought snow and more snow, it also brought buyers. Buyers are coming out in strong numbers so far, spurred by rising interests rates and good inventory supply. However, many house hunters might debate that fact since there is a significant chasm between “inventory” and correctly priced inventory that they would actually consider buying.

Year over year, March 2017 vs March 2018, we’ve seen a 9.3 percent increase in total available units and a median price point that has dropped 6.3 percent. Numbers like these, plus those rising interest rates, are bringing buyers out of the woodwork and on to open houses and showing appointments.

Only time will tell if the sales volume will be just as strong this spring too, but there is a mix of the right ingredients that I think has the makings for a robust Q2 market.

Now, only if we could get rid of this snow!

 

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