Current Average Price: $605,300 (up 9.5% from last year)Sales: 3,092 (down 0.8% from last year)New Listings: 4,333 (up 18.7% from last year)Inventory: 3,402 (up 5.9% from last year)Days on Market: 19 days (20.2% decrease from last year)Current Rate: Dropped to 4.75% from a higher rateWith the drop in interest rates, more buyers who were waiting for lower rates are now entering the market.Increased buying power for new buyers leads to higher bids in multiple-offer situations.This trend is likely to continue driving up prices, requiring buyers to make more competitive offers.As competition increases, property values are expected to rise.Sellers can benefit from the increasing market value of their homes.More buyers entering the market can make it an advantageous time to sell.Property Management News:
View all episodes
