The market and weather remain HOT! Temperatures remaining above 105 degrees (I’m looking forward to that cooler fall weather) and the market continue to march on. Homes sales below the $500,000 price points are selling within 90 days, homes sales between $500 – $1M are selling within 120 days, home sales between $1M-$1.5M are selling within 140 days, home sales within $1.5M -$2M are selling within 160 days, and homes sales $2M and up are selling within 200 days. Inventory remains flat with levels 24 months ago with less volatility through the summer months. Price is a major concern for all buyers who are educated on the market with their easy & user friendly access to information online these days. The homes selling are all priced well and within comparable sales numbers. As we move towards the 2014 fall season we will start to see inventory raise with huge spikes after the 1st of the year. If you want to ease the pain of competition, your primary focus should be selling before the end of the year.
Dave Kibbey & Associates has had another fantastic year with a record number of listings & sales. We are very excited to help our clients fulfill their real estate goals & dreams. I look forward to updating you next week. In the meantime… stay Cool!