Market Report
Median Sales Price Dips 3% The median sales price year-to-date has experienced a slight dip. In 2023, the year-to-date median was $530,000, while our current year-to date price has decreased by 3% to $517,820. While this isn’t a drastic drop, it does suggest a modest correction in home prices as the market adjusts to evolving conditions. Declining home prices started a few months ago and continue to trend downward. It will be interesting to see how the anticipated interest rate reductions will impact the market moving forward. For buyers, this market presents a unique opportunity with a wider selection of homes and better negotiating power compared to a year ago. For sellers, it's an opportune time to capitalize on their properties while prices remain near historic highs. How Can I Assist You? If you're considering selling your property in the near future, I invite you to reach out for a comprehensive Market Analysis and an in-depth market review. By understanding the current market dynamics, we can develop a strategy to ensure your home stands out and achieves the best possible value in this evolving landscape.
