Market Report: December 2018
Going through the real estate market in 2018 made me feel like it would be a strong year because there seemed to be a sense of urgency. Buyers often needed to act fast on a house they were considering. The lack of inventory also seemed to make the medium sales price increase.
So, how was the year statistically? Pretty good! We beat last year as far as the number of homes that were sold. However, we didn't beat 2016 in volume. The lack of inventory is not drastic when compared to 2017, but if you go back to 2015 it is dramatic. The decline in the number of houses for sale from 2015 are likely part of the reason the median sales price has been going up more quickly than average appreciation.
It will be interesting to see if these trends continue into 2019. We are certainly still seeing quick sales and low inventory.
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