October 2018 Market Update
The October market data is out and we noticed an improvement over what had been occuring the past few months, and it's mostly good news.
Inventory is down and sales are up (both slightly), so the gap between what sellers want for their home and what buyers are willing to pay is starting to close. Buyers are still nervous about the future of the market, given rising mortgage rates and the price of homes, but activity has picked up a bit.
The Days on Market across all three price ranges ($0-$600K, $600K-$1M & Above $1M) is still high, as is the percentage of homes coming off the market as Cancelled, Withdrawn, or Expired), but that is to be expected given the gap between listing price and buyer's perceived value.
Watch as David dives into the numbers and explains what they meant to Buyers and Sellers!
Click the button below or call 805-379-3300 for a copy of the October Real Estate Market report discussed in this video.