It’s the end of July and the fireweed in my backyard is portending the end of summer. A quick glance at my calendar last week and I noticed that the next three weeks are crammed full. Before we slide back into the school year, we have that last camping trip with friends and my annual trip home to Canada with the kids.
As that first day of school draws closer, so does the end of summer selling of 2018. For those curious about how 2018 is faring, here are the numbers as of July 30, 2018:
For the Homer Area (Diamond Ridge/Skyline, Homer, Fritz Creek and McNeal & East):
Number of Listings Currently Active: 89
New Listings 2018 YTD: 116
New Listings 2017 YTD: 131
Number of Listings that are Currently Pending: 19
Pending Listings 2018 YTD: 69
Pending Listings 2017 YTD: 72
Days on Market:
Average Days on Market 2018 YTD: 193
Average Days on Market 2017 YTD: 247
Sold Listings 2018 YTD: 57
Median Sold Price 2018 YTD: $262,483
% of List Price: 96.25%
Sold Listings 2017 YTD: 63
Median Sold Price 2017 YTD: $253,188
% of List Price: 95.75%
Sold Listings over the past 12 months: 120
Sold listings over the previous 12 months: 115
We currently have just over 9 months of inventory (so assuming that no other property comes on the market, it will take about 9 months for the current listings to sell). Some sources say that this points to a market that favors buyers, however that doesn’t take into account the imperfections of our current market.
Here’s my goal with giving you market statistics. As I report these, we’ll start to see trends emerging. It’ll take about three months for them to emerge but emerge they will.
Your take away today is simply this: An estimated 9 houses are going to sell over the next 30 days. To be sure yours is one of them, follow the advice of your favourite Realtor®, price it right, and show it well.