Average Sale Price
It is time to list your home. Sellers have had control for a long time now. That trend seems to be shifting just a bit these days. Not that the real estate market has become a buyers market yet, not yet but brokers are seeing a big shift in a lot of metrics that determines who will be controlling the market in coming months or years.
One of the most telling signs of market direction is the chart on the right. This chart is the average sale price. The average sale price is much more telling than the average list price. As all buyers and sellers know a seller can list their home for any price they want. Unfortunately over the summer many sellers were doing just that.
The market has seen some nice spikes to almost $800k and a little over two of the last 12 months. After the second largest spike in in 12 months in July the market has seen two months of decline. There could be other factors in this decline such as kids going back to school and a slowdown all around in the market. Although the last few years we have not seen much of a slowing in the market due to seasonal factors like real estate used to a few years back.