Supply is doing what supply does this time of year…

As people plan moves around the Summer, we typically see inventory levels rise this time of year through the 4th of July and then again after school starts.  This year seems to be no exception.  The number of active listings is up from the previous month; however, inventory levels are down 18% compared to this time last year.  Year to date, the upper bracket is finally getting a boost.  Home sales $500K and over have seen an increase of 23% over last year.  The move up buyer still seems to dominate the market with 24% of homes sold year to date are in the $100-160K range and 21% selling in the $200-400K range.

In a changing market, buyers and sellers have to be prepared to navigate through the nuances of different areas and ultimately, neighborhoods. Education is key.  With 51 closed sales year to date and 32 others under contract, Group O’Dell has plenty of experience to bring to real estate dilemmas.  Call us today if you’d like an assessment of your situation.