Under $300K

There are 34 homes on the market right now priced under $300K. Half of them were listed in the past 30 days, and only 6 have been for sale for more than three months.  

From this, we can conclude that homes in this price range are still selling, and fairly quickly.

The Middle of the Market

Between $300K and $600K, there are 147 homes for sale... which is most of our local inventory. Of those, 62 were listed in the past 30 days, 53 have been on the market for one to three months, and 32 have been for sale for more than three months.

So... buyers in this price range have plenty of options right now, and some homes are taking a while to find a buyer. That isn’t unusual. Many homes are selling, but not every home is selling quickly.

The Upper End

Above $600K, things look quite different. Of the 59 homes for sale in this price range, 31 have been on the market for more than three months. That’s more than half!  Meanwhile, only 14 of these higher priced homes came on the market in the past 30 days.

Why the difference? There are fewer buyers shopping at these price points... and with mortgage rates now above 7%, a higher rate hits a higher mortgage amount harder.

What This Means for You

If you’re selling under $300K, you can probably still expect a relatively quick sale if your home is priced well.

If you’re selling between $300K and $600K, price carefully. Buyers have choices, and they’ll compare your home to the others on the market.

If you’re selling above $600K, be patient... and be realistic. A longer time on the market is common right now, and pricing your home right from the start matters even more.

And if you’re buying above $600K... you might have more room to negotiate than you’d expect, especially if a home has been for sale for a few months.

As always, these are big picture trends. How long your home might take to sell depends on its location, condition, size and price. If you want to talk through where your home fits, I’m happy to help.