Saturday, April 06, 2019 / by Sara Koenig
Can you believe it is April already? As we head into the peak months for listing your home here in Spokane our month of March did not disappoint from a growth perspective.
March finished stronger than both January and February, both months which outpaced national averages. ????
This continues to be driven by our market continuing to be very constrained as it relates to inventory levels. Most of the month remained below one month worth of homes available for potential buyers. This can be mis-leading due to the fact that search engines like Zillow May show nearly 700 homes available when in reality there might be 70 that are ACTUALLY available and not either sold or under contract already. Super frustrating situation if you are a buyer currently. #twothumbsdown Right?!?
????So how did the month stack up? .
The average home price for March of 2018 was $244,808 while the average sales price for 2019 was $278,917 up over $30,000 and an increase of 13.9% ?????? #equity .
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We also saw the average days on market drop to 47 days in 2019 versus 51 days in 2018. I believe this directly correlates to the fact educated buyers are prepared, pre-qualification in hand, and many lenders are closing loans in less than 21 days now. #fastpacedworld .?
So, if you’re a buyer, have a little patience (you might have to submit multiple offers before you get an accepted offer) and as a seller, you can still expect in most cases to have your home under contract within just a few days. ?? #sold
Having a strong professional by your side to navigate all this is crucial. Strategies and communication can be a deal breaker in a market like this. I have won bids for buyer's just based on the fact I have good communication with other broker's and because I was nice and easy to work with. I hate to say that, but it matters who you work with on the other end of a transaction, and most brokers want to work with a professional that is going to be on time, strong with communication, and pleasant to work with. This goes for most people in business right? In an already stressful job we have helping client's buy and sell their home, dealing with a difficult broker DOES NOT make anything easier. :(
I am here for you when the time to buy or sell arises! Just give me a shout!
Sara Koenig | Spokane Realtor