The June 2016 real estate numbers spoke loud and clear that the 2015 rulebook should be thrown out the window! Key indicators such as inventory, close transactions, amount of offers received, more price reductions and others continue to point towards a shift in the market place.
The Brexit mess in the U.K. also guaranteed excellent mortgage rates for buyers thru the end of 2016. Combined with slightly rising inventories and buyers has a better edge compared to 12 months ago.
Properties owners contemplating selling should do a serious re-think about whether we’ve reached a cap to the wild returns on investment we’ve seen over the past 4 years.
You do not want to be on the other side of the market bell-curve.
What you don’t know will hurt you! Seller or buyers should take advantage of my COMPLIMENTARY MARKET ANALYSIS based around your short and long-term real estate aspirations and goals.
A quick 30 minutes consultation could save you hundreds of thousands of dollars.
Until next time!
Single Family Homes
- Days on Market: Were slightly shorter by 11.11% in June 2016
- Median Sales Price: Down slightly by 0.54% versus 2015, showing weakening
- Price per Square Foot: Was higher by 14.48% in June 2016
- % Of List Price Recv’d: Was lower by 6.25% compared with 2015; more softening
- Months of Inventory: Was doubled to 128.57% compared to 2015 favoring buyers
- Monthly Closed Transactions: Were lower in 2016 by over 22%
- Days on Market: Rose over 44% showing an overall slowing in the marketplace
- Median Sales Price:Sale prices dipped slightly by close to 4%
- Price per Square Foot: Was up slightly at 2%
- % of List Price Recv’d: Dipped by almost 4% versus 2015
- Months of Inventory: Inventory ticked up 160% in 2016 favoring buyers
- Monthly Closed Transactions: Were down over 47% compared to 2015, a slowdown indicator