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How Our Agents Are Feeling About the Real Estate Market
Dated: October 26 2022
How Our Agents Are Feeling About the Real Estate Market:
The real estate market has been a huge topic since it is going through some changes in the past couple months. A few of our agents here at House of Brokers wanted to share their thoughts on the changing market and what you can possibly expect to happen in the future.
Susan Reeves - Susan Reeves Group
"Great news in the real estate market from House of Brokers Realty! Compared to the same week last year, more homes were active, closed and pended. What this means for you is that the real estate market remains strong, regardless of what you may be hearing. Also, the average days on the market decreased by 26%, so we are still seeing buyers moving forward with purchases. A positive note for buyers is the average sale price came down by 13%, helping to increase your buying power. A positive note for sellers is that the new listings that came available decreased by 9%, meaning the inventory of homes buyers have to choose from is tight. It’s still a great time to sell!! Compared to the same week in 2019, all the stats are positive, indicating that our market has opportunities for both buyers and sellers. As always, if you need any information or real estate related help, we are here for you!"
Dennis Jordan - Dennis Jordan & Associates
Kenney Hubble - Bev & Co
"So How's the market- Our inventory level includes 574 properties on the market in Columbia MO as of October 17th. This is the supply of houses for sale in the Mid Missouri area. In comparison this level of inventory is about 100 houses more than the supply of homes on the market in 2021, however it is still about half the inventory from 2019. Over the last two and half years our marketplace has seen a low supply of homes on the market and that has resulted in the values of the homes to increase at a rate that is about three times the amount that we have historically seen in our market. The recent increase in interest rates has slowed the demand which is reflective in the number of homes that have sold over the last week being 49 total properties as compared to 81 homes that sold over the same week's time period a year ago however if you look back to 2019 buyer demand over the same week there were around the same amount of properties that have went under contract, and if you keep in mind that in 2019 there were twice as many homes on the market that relates to a higher percentage of the homes selling in today's market than what we were seeing before the housing shortage began. So is this still a good time to sell your home? Yes, there are still buyers that are looking and the available properties for sale are still limited compared to years past and the values for the homes are close to the all time high for our area."
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How Our Agents Are Feeling About the Real Estate Market:The real estate market has been a huge topic since it is going through some changes in the past couple months. A few of our agents here at