Our first quarter of 2018 has been a busy one. As you can see by the graphic above, residential home sales are down slightly from the same period last year. Even though less home sold, the average sales price, median sales price and dollar volume were all up due to supply vs demand. Less homeowners are selling and there are more folks wanting to buy. As you can see from the national graphic below, the gap has been closing over the past several months. This doesn’t include March data as it has not been compiled yet.
Experts predict that interest rates will continue to rise throughout the year so more buyers want to take advantage of the rates now.
If you are considering a move this year, now is the time to get your house on the market. Buyer demand remains strong and home prices are rising.
You may be tempted to wait it out to see if you can get even more for your house, but remember, the house you want to buy will also experience a price increase so waiting may mean you will pay more for your next house later than if you moved now. I’m ready to listen to your real estate questions and concerns. Let’s find your next home together!