Put your finger on the pulse of the real estate scene, where the winds of change are blowing! While 2023 saw a dip in new listings, sales, and contracts, 2024 is gearing up for a shift. The latest data reveals a remarkable 17% surge in new listings hitting the market from last month! While sales are down 3% from last March, they are up a whooping 12% YTD from 2023. Buyer urgency is on the rise in this spring market; with a 7% increase in homes closing within 30 days from last month. There has also been an 8% increase in homes sold over asking price from last month. And here's the cherry on top; we've seen average interest rates decrease slightly and remain balanced YTD compared to the rollercoaster of last year. These fluctuations bring a symphony of opportunities for both buyers and sellers, making it a prime time to make moves in the housing market!
Want to know more about our dynamic real estate market? Consult with one of our real estate experts to get more specific insights into market conditions in your neighborhood and to help you make an informed decision about listing your home. We can provide guidance on pricing, marketing strategies, and the overall selling process tailored to your particular area. If you have any questions about putting your house on the market this year, please contact us!
If you're interested in starting the home search, we'd be more than happy to guide you through the ins and outs of purchasing from contract to closing. Stay tuned for more Market Trends… right here on Harrisonblog.