Hi folks, If you are going to be selling your home in the near future or are just curious about its value in today’s market, give me a call or use the button below. I will email you a comprehensive market analysis of your home. There is no obligation on your part and it is totally free.
Not ready to move yet but want to keep an eye on your homes value, I have a monthly update that is customized to your home and neighborhood. Click the link below to see what is included in the report and to sign up:
U.S. existing-home sales improved for the second month in a row, jumping 9.5% to a seasonally adjusted annual rate of 4.38 million units, exceeding economists’ expectations and marking the largest monthly gain in a year, according to the National Association of REALTORS®(NAR). The rebound in home sales comes amid fluctuating mortgage rates and elevated sales prices, indicating there is plenty of buyer demand heading into the spring selling season.
Closed Sales decreased 18.3 percent for Detached homes and 7.3 percent for Attached homes.
Pending Sales increased 4.0 percent for Detached homes but decreased 8.5 percent for Attached homes.
The Median Sales Price was up 18.0 percent to $1,180,351 for Detached homes and 7.9 percent to $749,995 for Attached homes.
Days on Market decreased 30.6 percent for Detached homes and 26.7 percent for Attached homes.
Supply decreased 11.1 percent for Detached homes but increased 7.7 percent for Attached homes.
The recent surge in home sales was likely due to a dip in mortgage rates in December and an increase in housing supply nationwide. According to NAR, total inventory grew 5.9% month-over-month and 10.3% year-over-year to 1.07 million units, for a 2.9 months’ supply at the current sales pace. Buyer demand remains robust, and the limited supply of inventory helped push the median existing-home sales price up 5.7% year-over-year to $384,500, the eighth consecutive month of annual price increases.
The Numbers by City:
These #’s are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes. DOM = Days on Market % List Price = Percentage of the original list price that the home sold for.
Price is important, and it needs to be right from the first day.
When a home first comes on the market, it gets a lot of attention. If it’s priced right, it will get showings. But if it’s overpriced, buyers’ agents will skip over it – and may not even notice if the price is reduced later.
And, even if a buyer is found at a seriously inflated price, the sale could fail as a result of an appraisal.
That’s why it’s more important than ever to price a home right from the very start. As a listing agent, my job is to give you the most up to date information and recommend a price that will sell in today’s market – even if it isn’t what you want to hear.
If you’re ready to see what your home is worth in today’s market, get in touch. I’ll be happy to prepare a no-obligation market analysis to help you in making a decision about selling.
Icon of the Resurrection, with Christ having kicked down the gates of Hades and pulling Adam and Eve out of the tombs. Christ is flanked by saints, and Satan—depicted as an old man—is bound and chained.
Easter and the holidays that are related to it are moveable feasts which do not fall on a fixed date in the Gregorian or Julian calendars which follow only the cycle of the sun; rather, its date is determined on a lunisolar calendar similar to the Hebrew calendar. The First Council of Nicaea (325) established two rules, independence of the Jewish calendar and worldwide uniformity, which were the only rules for Easter explicitly laid down by the council. No details for the computation were specified; these were worked out in practice, a process that took centuries and generated a number of controversies. It has come to be the first Sunday after the ecclesiastical full moon that occurs on or soonest after 21 March, but calculations vary.
U.S. existing-home sales grew 3.1% month-over-month to a seasonally adjusted annual rate of 4.00 million, exceeding economists’ expectations and marking the strongest sales pace since August 2023, according to the National Association of REALTORS® (NAR). Falling interest rates late last year, coupled with a recent uptick in inventory, helped existing-home sales to climb following last month’s decline, with monthly gains reported in the Midwest, South, and West regions.
Closed Sales increased 9.9 percent for Detached homes and 24.9 percent for Attached homes.
Pending Sales decreased 6.4 percent for Detached homes and 11.2 percent for Attached homes.
The Median Sales Price was up 18.2 percent to $1,122,500 for Detached homes and 9.6 percent to $740,000 for Attached homes.
Days on Market decreased 37.2 percent for Detached homes and 30.6 percent for Attached homes.
Supply decreased 11.8 percent for Detached homes but remained flat for Attached homes.
Total inventory heading into February stood at 1.01 million units, a 2% increase from the previous month and a 3.1% increase from the same time last year, for a 3 months’ supply at the current sales pace, according to NAR.
Although buyers may find additional options in their home search, inventory remains below the 5-6 months’ supply of a balanced market, and demand is exceeding supply. As a result, existing-home sales prices have continued to rise, climbing 5.1% year-over-year to $379,100.
The numbers by city: These numbers are for Single Family Detached homes and do not include Attached Homes, aka condos and townhomes. % List Price = Percentage of the original list price that the home sold for.
Veterans Day is an official United States public holiday, observed annually on November 11, that honors military veterans, that is, persons who served in the United States Armed Forces. It coincides with other holidays, including Armistice Day and Remembrance Day, celebrated in other countries that mark the anniversary of the end of World War I; major hostilities of World War I were formally ended at the 11th hour of the 11th day of the 11th month of 1918, when the Armistice with Germany went into effect. The United States previously observed Armistice Day. The U.S. holiday was renamed Veterans Day in 1954.
Veterans Day is not to be confused with Memorial Day; Veterans Day celebrates the service of all U.S. military veterans, while Memorial Day honors those who died while in military service.
U.S. sales of existing homes recently fell to a 13-year low, dropping 2.0% month-over-month and 15.4% year-over-year as of last measure, according to the National Association of REALTORS® (NAR), as surging interest rates and elevated sales prices continue to make homeownership unaffordable for many prospective buyers. Purchase activity is down significantly compared to this time last year, but rising interest rates are also keeping many current homeowners from selling, causing inventory to remain at historically low levels nationwide.
Closed Sales decreased 7.5 percent for Detached homes but increased 10.8 percent for Attached homes. Pending Sales decreased 10.2 percent for Detached homes but increased 28.7 percent for Attached homes.
The Median Sales Price was up 18.6 percent to $1,150,000 for Detached homes and 13.1 percent to $735,000 for Attached homes.
Days on Market decreased 16.7 percent for Detached homes and 36.7 percent for Attached homes.
Supply decreased 28.0 percent for Detached homes and 36.4 percent for Attached homes
Total housing inventory going into October was at 1.13 million units, up 2.7% from the previous month but down 8.1% compared to the same time last year, for a 3.4 months’ supply at the current sales pace, according to NAR. The shortage of homes for sale is making it harder for buyers to find a home to purchase while at the same time pushing sales prices higher nationwide, with the median existing-home sales price rising 2.8% annually to $394,300, the third consecutive month of year-over-year price increases.
National sales of existing homes recently fell to a 7-month low, as surging borrowing costs, rising sales prices, and limited inventory continue to keep many would-be buyers out of the market. Borrowers have become increasingly sensitive to fluctuations in mortgage rates, which have remained above 7% since mid-August. With fewer buyers able to afford the costs of homeownership, existing-home sales declined 0.7% month-over-month and were down 15.3% year-over-year, according to the National Association of REALTORS®(NAR).
Closed Sales decreased 23.1 percent for Detached homes and 25.0 percent for Attached homes.
Pending Sales decreased 14.3 percent for Detached homes but increased 0.8 percent for Attached homes.
The Median Sales Price was up 15.1 percent to $1,122,500 for Detached homes and 8.5 percent to $705,571 for Attached homes.
Days on Market decreased 13.8 percent for Detached homes and 44.4 percent for Attached homes. Supply decreased 32.0 percent for Detached homes and 33.3 percent for Attached homes.
Prices have continued to increase this fall despite softening home sales nationwide, as a lack of inventory has kept the market competitive for prospective buyers, sparking bidding wars and causing homes to sell for above asking price in some areas.
Heading into September there were only 1.1 million units available for sale, 0.9% fewer than a month ago and 14.1% fewer than the same period last year, according to NAR. As a result, the U.S. median existing-home sales price rose 3.9% year-over-year to $407,100, marking the third consecutive month that the median sales price topped $400,000.
.jpg/250px-Resurrection_(24).jpg)
