In today’s market update, we’re going to take a look at the numbers from the beginning of September. It’s interesting how much the market has changed within the last two or three months. It was a strong seller’s market before it started to taper off. Now, buyers have more opportunities.
We have about 2,150 active listings in the MLS, which was down around 1,500 back in May and June. Our days on market is going up slightly, but not too much; instead of homes selling in hours, they might take anywhere from a day to a week or slightly more.
We have between 2,950 and 3,000 pending properties currently. That means we have more properties under contract than we have active in the MLS.
“I think the market will stay steady through the remainder of the year.”
Year to date, we have sold 11,614 properties, compared to the 10,926 we sold in 2020. It’ll be interesting to see how much more we sell in 2021 compared to 2020 once the year is finished. Last year, we sold 16,800 homes in total, so we still have around 6,000 more homes to go.
All in all, we’re pretty excited about this year. I think the market will stay steady through the remainder of the year. As a tip, I’ve always said that the last quarter of the year is the best time to buy if you’re looking to get a deal. The marketplace traditionally slows down a little bit and gives you more time to search.
If you have any questions about real estate or need assistance, don’t hesitate to reach out to me via phone or email. I’d love to help you.