May continued the trend of multiple offers due to low inventory. In the real estate industry we are always preparing ourselves for “The Shift” in the market. Seller’s market to buyer’s market and vice versa. We know the current seller’s market is going to shift probably sooner that later, but it is taking a little longer than we all expected. Overall, sellers are still enjoying the “highest and best” frenzy for houses under the $300,000 mark. It is, however, still a great time to buy a home because interest rates are low and there are many options for financing. New construction is booming and many buyers are taking that road, especially since resale inventory is very low.
The Numbers from Alamance MLS:
- Property Units Sold: 230
- Average Days on Market: 212
- Average list price to sale price ratio: 98.5%
Dudley Realty Group Numbers:
- Property Units Sold: 6
- Average Days on Market: 36
- Average list price to sale price ratio: 102%
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