It should be to no surprise that our real estate market is strong and continuing upward. I pasted 3 graphs below to help illustrate what is more precisely occurring. I want to point out on the last graph. The sales price vs list price for the month of April was at 100%. This is something to take note of and it means that properties are being priced appropriately and there's little to no room to negotiate as a buyer. Well priced properties are selling over asking with multiple offers.
You can see on the 2nd graph that the average price sqft has continued to climb with only a little dip in Dec.
We have the influx of buyer from the bay area and the millennial buyers are a growing market segment. It looks like we'll have a continued strong year, too early to say for next year. I'm always skeptical because I know the real estate market is cyclical and we're about due for a correction.
To bring this current, I've notice a slow down over the past week or so. I think its attributed to all the graduations and holiday weekend coming up.
If you have any real estate questions, feel free to contact me.
For Sale Vs Sold & Pending
Average Price Per Sqft
Average Days on Market / Sales Price vs. List price