This month’s numbers reflect the status of the market at the end of the second quarter. As you can see, the Days on Market in every area of the city have continued to drop, particularly in Johnson County. For the last few months, select pockets have been selling faster than we have seen in years with many multiple offer situations. As we begin the month of August, we are seeing that multiple offers and these panic-driven sales are beginning to subside and resume a more stable pace indicative of a healthy and solid market.
Market Update: August 2014
This leveling out in activity is also an indication that the recent increase in sales prices is going to slow down a bit to a more steady rate. What does that mean for you? If you’re planning on selling your home, now is still a great time as inventory levels are still at a 5 year low in many areas and we still expect a robust Fall market due to the low interest rates. We are at a sweet spot for buyers as the sales prices have begun level off AND interest rates remain at these awesome levels.
If you would like further details on this information or if you’re thinking of making a move anytime within the next year, please give us a call to schedule a consultation now and make a plan that includes the best time for you to get the most for your investment.