September Market Trends
- Many homes were taken off the market this month. This is however pretty typically for our area. Some sellers don’t want to move once school starts or as we start to go into fall so they take them off the market then re-list in Spring time.
- 37.6% of the sales were cash sales
- Buyers are negotiating more contingencies in their offers
- Some sellers are offering some $$ to buyers to help out with their closing cost and to buy down their interest rates.
These stats are for previously owned properties:
- Months of inventory is up to 3.5 month (This means if we didn’t take on any new listing and closed the same number each month that is how many months it would take to sell all the homes) This is up 94.4% from September 2021.
- Total inventory is up 1149 homes with is 45.8% from September 2021
- Average sales price is down to $672,093 which is a 8% decrease from September 2021
- Percentage of list price to sales price is down to 96.2%