“Total residential inventory rose to 1,346 units compared to 1,212 last year at this time. Rising home values coupled with mild spring weather were likely contributors to the 11% increase,” according to the data and analysis provided in the latest Market View report issued this week.
To understand the latest residential real estate trends in this market, professionals all across our industry look to the indispensable data and analysis featured in this guide released by Market Trends LLC each month.
Researched, compiled, analyzed, and published by Joe Carpenter, one of our own brokers here at Fleisher Real Estate, the Market View report features data on the number of real estate transactions and other key variables, measuring the total market opportunity and their respective market share.
Later in this month’s new report, Joe adds:
YTD listings and sales totals continue to track closely with last year though the availability of homes priced under $400,000 continues to decline significantly and is now averaging 15% fewer this year than last. While this phenomenon has often been mentioned here and in the local press, its significance is difficult to overstate and the impact, already evident as shown in the numbers below, have very real implications for changing demographics and growth rates in certain markets.
To view the complete May 2016 Market View report, including commentary by Joe Carpenter and his proprietary charts, follow this link.
Real estate companies, brokers, mortgage companies, banks, appraisers, developers and other professionals rely on this report because, according to Market Trends, these trend indicators can display shifts in market direction well in advance of when they show up in prices and negotiating terms.
But what does that mean for you? While this is a report designed for industry professionals, it provides key insights that may provide individual buyers and sellers with an advantage as they approach their own transactions. We believe that knowledge is power, and like the report’s visionary Joe Carpenter, our entire team of experts believes in sharing our knowledge with our clients and the communities we serve. With this empowerment, we help set the stage for more successful transactions and more satisfied buyers and sellers.
If you are wondering how these trends may impact your own plans to buy or sell, contact Fleisher Real Estate today to begin the conversation.