Market Trends

Liz Moore Market Watch

At Liz Moore & Associates, we are students of the local real estate market.  We believe that in order to give you the best counsel, we must stay on top of current trends such as absorption rates, days on market, appreciation, and inventory levels, to name just a few.

Whether you are a prospective buyer or seller, it is essential that you are armed with the latest data so that you can make informed real estate decisions.

Below you will find some recent local market trends.  We would be delighted to share more detailed reports with you (based on a specific neighborhood or price ranges, for example)?contact us if you're interested!

Absorption

Perhaps the most critical trend influencing the local real estate market today is the absorption rate.  Although pending sales are holding pretty steady, new listings on the market are out pacing those sales, leaving a steadily increasing inventory of available homes on the market.  The absorption rate varies considerably in different submarkets, but is currently averaging 7.2 months in the market overall.

Appreciation

Even with the burgeoning inventory levels, most local markets have still enjoyed a moderate level of appreciation this year.  Sellers who are realistic about their prices are able to sell their homes for prices which enable them to cash out some of the remarkable equity gains we?ve seen in the past 5 year growth cycle.

Overall Market

It?s definitely a great time to buy!  With interest rates still at historically low levels, and more to choose from than we?ve seen in many years, buyers are able to negotiate terrific deals in the current market climate.  Overall, pending sales are down only slightly more than 14% over last year?s record levels, which suggests a market correction as opposed to the ?burst bubble? that the national media insists on promoting.

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