We are seeing a slight decrease in home prices nationwide as interest rates continue a slow trend upwards. However this continues to be a Seller’s Market due to a shortage of available housing, and signs of reluctance to purchase from buyers.
- Average days on the market is down to 33 days (from 60 days), and median home prices have decreased 3.6% over last year.
- The median home sold price in the metro area is $530,000. Interest rate are currently up to 6.81% and are expected to fluctuate over time.
This is a great time to list while it is still favorable to Sellers. Buyers also benefit from dropping prices, stable interest rates, more time on the market.