Market Update from Puma & Associates Realty

Happy Tuesday! I hope you are doing well! I wanted to send out an update on our current market statistics through the month of September. As you probably know, the mortgage rates have continued to stay extremely low which is definitely the driving force behind a lot of our real estate transactions right now. Overall for pending sales through the of the end of September, we are up 28.1%. The median sales price is up 11.5%. If you actually look at new listings that have come on the market in September, the average list price is up 11.9%! The high demand and low inventory is continuing to drive up our prices. When looking at inventory, we currently have 1.1 months of inventory. Last year at this time we were at 2.5 months of inventory. Overall, it’s a great time to capitalize on your equity as well as take advantage of the low rates. If you know of anyone that we can help, please let us know!

Thanks and have a wonderful day!