The first question we are asked these days is what kind of effect the drop in the energy industry is having on real estate. As of yet we have not seen any significant issues. Here's what the numbers are telling us:
Our inventory has risen with 356 homes currently on the market (we believe about 330 is a good balanced number)
Our absorption rate has changed very little from last month and sits at 4.6 months (6 months is a perfectly balanced market)
The average list price and sales price remain strong at $246,775 and $231,854 respectively. This is up from $234,950 and $220,511 one year ago.
The days on market have dropped to 113 from 116 last month and 136 one year ago.
The pending sales have remained strong with 118 homes currently under contract.
When you have questions regarding this report, or real estate in general, don't hesitate to contact us. We hope this finds you well and as always we are never too busy for any of your referrals!