Hyper local market reports for real estate provide detailed information about the specific neighborhoods and areas where properties are located. They include data on recent sales, property values, and market trends. These reports help buyers and sellers make informed decisions by understanding the local market conditions and pricing trends.
May’s real estate market in our target areas was characterized by a low supply of inventory, favoring sellers and potentially leading to higher prices. Despite a slight increase in the number of months it is taking to sell, the market remains highly competitive, with homes selling in an average of just 7 days. Homes are also selling for a premium, with many prices surpassing their initial listing price. Furthermore, the median sold price indicates a focus on higher-end properties.
Whether you’re a buyer or a seller, it’s important to stay informed about the market trends. As your REALTOR®, I’m here to assist you every step of the way. If you have any questions or are ready to make a move, don’t hesitate to reach out to me.
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