September home sales were exceptionally strong. Closings increased by 8.9% over last year’s numbers, probably fueled by lower interest rates.
At the same time 8.4% more homeowners decided to list. It’s the largest increase of new listings ever during the month of September (see below).
New Listings Spike Home Sales
This inventory of new listings was immediately wiped out by eager buyers. As a result, the overall inventory of homes for sale dropped by 5.6% to its lowest number in September.
Which Price Ranges are in Demand?
The majority of buyers are looking in the $100,000 to $250,000 price range. That’s where 50% if all home sales happened during the past 3 months (July – September 2019).
Only 5% of buyers can afford more than $500,000. In the higher price ranges, we are experiencing a buyer’s market. A good selection of quality homes is available for buyers who can afford them.
Now is the best time ever to move up. If you own a home under $300,000 in good condition it should be easy to sell.
With low interest rates and a great selection of luxury homes you can move up without breaking the bank and list your home without the fear of not finding a new place to live.
September 2019 Housing Stats
Click this link to see detailed September 2019 Housing Data.
Here are the highlights (numbers compared to the same month a year ago):
- Closed Transactions – 2,824 – UP by 8.9%
- Pending Contracts – 3,176 – UP by 7.8%
- Inventory for Sale – 5,277 – DOWN by 5.6%
- New Listings -3,295 – UP by 8.4%
- Days on Market – 28 – DOWN by 3.4%
- Average Sales Price – $239,564 – UP by 3.2%
Call or text me TODAY at (614) 975-9650 to take advantage of low interest rates and move up this Fall.
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.