Ashman Realty Group

3 interesting housing stats from the FMLS posted for February, showing a completely different market then 9-10 months ago.

1) Median Sales Price down 10% since peak in June 2022

2) Inventory - Still short on supply, the # of homes for sale in February was down 38% from average 5 year inventory 2016-2020.

3) Median Days on Market - 28 days on market in February vs. 6 days on market in June 2022.

In summary, interest rates is the cause, decreasing buying power, and impacting affordability. Supply of homes is the second key figure keeping home values fairly steady in our market.

Is it a good time to buy or sell? This is never a blanket answer of yes or no for everyone. Buying or selling a home is always based on the individuals circumstance. We are here to help you understand what makes sense for you! We always provide free consultations and BPO's (Broker Price Opinion). Never pushy, always honest, here to serve.