Happy Spring! Time to take a look at recent housing stats. We’re going to key in on what happened in the month of March. If you need to know what’s happening in your neighborhood right now, contact one of us today. In the meantime, let’s check the Syracuse Homes for Sale and other fun stats.
There were 1,098 listings. This number represents a 6.2 decrease over this time last year.
In March, there were 908 properties under contract. This is an increase of 19.2% over last year.
Our market has remained steady with just a slight decrease (7.1%) in properties that have sold.
The Bigger Picture
If we look at the year to date figures, new listings are slightly lower (1.7%), pending sales are up 14.7% and closed sales are up 2.4%. As we might expect, because of low inventory, the median sale price is also up by 2%.
As consumer confidence has risen, we are seeing a slight increase in mortgage rates. Most will still qualify. As consumers gain their bearings after the inauguration of a new President and its affect on the stock market, we will see an increase in market activity.
Currently, it’s a sellers market. Some might be concerned that if their house sells quickly, they’ll have no place to go. Experience has shown us that it takes just one house to be listed to be the perfect fit. KW Agents are creative. If need be, they will contact homeowners directly (letters, postcards, etc.) in your desired area if a home might fit. In the end, it just might be worth it to move twice if you have to as many sellers are getting great offers in this market.
If you have any questions about the current market or whether or not you so sell, please feel free to contact us today to make your move!