Posted on September 5, 2017
Current Market Statistics
We are offering you a real time view of the market each week with these statistics. There were over 500 closings in the last week of August. This bump in closings at the end of the month, especially at the end of August is normal as many young families want to get settled before school starts but is still less than last year, at 83% of last year’s sales. New listings is down from last year, but I expect it to rise as people are getting their homes ready for the fall market. This is supported by the new listing to pending ratio is 124% meaning that the number of listings should be rising. And, the cancelled and expired listings may be referring to those that are being ‘refreshed’ by the agent, to lower the days on market. This is an effective tactic to bring new attention to a listing.
Look for a busier market than this summer, for the fall.