It had to happen, all markets operate in cycles ours is no different. The housing stats are showing very positive signs at this time for our local residential market. The first five months 250 residential properties sold, that’s over a 14% increase in closed transactions compared to the same period last year. There’s more, the median price has gone up again & is now at $252,500, a number that makes it very difficult for our many first-time homebuyers. For Sellers the news is even better as home prices have gone up 3% since last year, the average days on market has dropped to just 146. So, if you have been thinking of selling, don’t wait, as markets are always fickle, and some are predicting a slow down may come in the not to distant future.
