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January Market Update

I wanted to give you a quick update for our local market. With so many of us still working from home, the trend is finding more space for a home office, more space to entertain, and just all around larger homes.

We are still dealing with super low inventory and super high demand. We don’t even have a full month of inventory at this point. Our market is currently showing just 0.7 months of inventory. We are down 59.8% year over year of inventory! The average days on market is just 26 days compared to last January which was 46 days.

Average list price last January was $336k compared to this January which was $371k. Prices are continuing to increase, and the interest rates are still low.

Overall, if you are in the market to buy, it is key to be prepared and ready to hit the ground running. We are here to set you up for success and make sure your financing/preapproval is set. We will also guide you when it comes time to make a strong offer.

If you are looking to sell, now is the time to tap into all that equity! Prices are continuously climbing, and your home might be worth more than you think.

If you have any questions about the market or about real estate in general, please let us know. We hope you have a wonderful day!

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