Hello, June is here! It’s the first Saturday of the month, so it’s time to take a look at May Monroe County Real Estate housing stats. We’re seeing the same trend continuing as inventory remains low. Here’s where the numbers land-
In the last 30 days, 575 properties were listed with an average sale price of 175K. Homes are ranging from 6k to almost 2 million! It’s important that you find a mortgage payment you’re comfortable with. We’re happy to make a connection for you.
Of homes listed in the month of May: 238 have already gone under contract with a median price of 160k, which is 30k more than January which is another sign that we remain in a seller’s market. The average days on the market was 4.
In the last 30 days, 416 properties have sold with a median closed price of 152k at 100% of the asking price! In fact, many sellers are receiving over the asking price as a result of multiple offers.
Continued low inventory remains a challenge. However, preparation will meet opportunity. If you are a buyer, you’ll need to be pre-approved and absolutely non-contingent. You may have to
move a little faster than you anticipated, or be patient until the right property comes along. Keep in mind, that the right house in the right location and in good condition can be worth making some upgrades. Don’t miss the opportunity because a house may look tired at first glance. If you are a seller, you will get the best price now. It may mean that you consider alternate housing options in the short term. We represent experienced Realtors who can guide you through the process and help you put your best foot forward when the time comes.
If you own a home, it’s a great idea to understand its value whether you make a move or not. It’s one of the biggest investments you’ll ever make and it’s often the key to your financial future. Contact us today to see how we can help you begin your journey!