January’s Market Update for Martin Acres and Majestic Heights

# of Closed Sales: 0

Average Days on Market for Solds: 52

Median Sales Price: $605000

# of news listings: 3

Months of Inventory Last Month: 1

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Link: MartinAcresLive.com

December’s sales bumped up our year’s appreciation into the double digits. 2016 is sliding in at 10% appreciation over 2015’s sales. Here’s the breakdown:

New listings are taking an average of two weeks to go under contract and are closing an average of one month after that. A one month average from contract to close is quick and this can be attributed to the buyers in today’s market writing competitive offers that close quickly and even waive some of the contingencies like appraisal and inspection.

Two weeks to go under contract is also very quick and indicates a seller’s market. The market will be showing signs of balancing out when we see listings sit on the market for a couple months before going under contract. As of now the market is strong and moving

Other than that it is business as usual. Nothing to choose from and the listings, which come on the market, are swept away just as quickly. We have also seen a good number of pop-tops and remodels in the neighborhood lately. With these, and the new Creekside Elementary School that is being built, the overall feel of our neighborhood is receiving a facelift. This will have a positive effect on the surrounding property value.

We have lifted off in 2017 and I will be keeping you informed as we move through the year.

I am helping buyers and sellers navigate the very unique characteristics of this market. Don’t get left behind.

Call me to discuss how I can assist you with your real estate goals.