The average days on market for July 2015 was 79 days, which is a record low spanning all the way back to July 2007. The average for days on market has been decreasing since January 2015, where it peaked at 126 days. This clearly indicates excellent conditions for a continued seller’s market.
What does this information mean to you? Well, our local market has remained consistently in a seller’s market for more than two years. Interest rates are expected to remain at historical lows for another few months, and are predicted to climb to approximately 5% by year end. For those sellers who have equity as a result of the increase in property values, the time may be right for us to talk about your options. Give us a call at 775-453-0209.