Three key points to think about when selling your home. First, what’s the market like on a Macro level and how will that affect my home while it is on the market? Second, will I get what I need out of my home to make this journey worth my time? Finally, what is the local market looking like on a Micro level?
To learn more about the Macro level of the Real Estate market this article talks about interest rates and how this could affect the buyer and sellers. Here are some figures to help you see how and where the local market is trending on a Micro level.
Days on Market
The average days on market in 2017 fell -61.9% from 105 to 40 days.
Pricing of homes in Mariposa County
In 2017 the average median home was listed at $329,000 and sold for $299,500 down -8.96% from the original asking price. In 2017 the average median home price was listed at $347,375 and sold at $317,500 -8.60% from the original asking price, at a difference of 4.01%.
Mariposa County Inventory
Using days on market and average home price helps to understand how the market is moving and creates the inventory of homes on the Market. It is widely accepted in the Real Estate Industry:
0-4 months of inventory is a “Seller’s Market”
5-7 months inventory is a “Balanced Market”
8-12 or more months of inventory is a “Buyer’s Market”
In the Start of 2017 the Mariposa County had 4 months of Inventory. Spring through summer there was 9 with the lowest in June & August at 5 months.
How to view these numbers.
First look at days on market. As the days on market have reduced this shows that buyers are out there & homes are being priced right to get buyers attention, so that’s good. Next look at Pricing. Pricing is the key factor that helps you the seller determine if placing your home on the market is even worth your time. Combining this information creates the inventory inside Mariposa County.
With inventory being low, the forecast in 2018 of selling your home in a timely manner and at your asking price is currently looking very promising with in Mariposa County. Have questions? Want to know more about how these numbers could affect you? Contact me at 209-742-3974 or at http://www.myrealtorbryce.com