The March market statistics were made available recently. It is a tale of good and bad, here are some of the stats:
- Active listings at month-end are up 42.9% over March last year
- Closed sales are down 2.2% through March, as compared to last year
- Median sales price is up 2.7% over last year, to $225,000
If you are a seller, this means that there is likely several homes in your area that are currently listed and are competing with your home. This means that pricing, staging, and condition are critical to receiving an offer.
If you are a buyer, you now have real choice in a market that for years was quite tight. In this market the nicest homes still sell very quickly but all things being considered, you have significantly more leverage with sellers than there has been in many years.