How did this year’s second quarter real estate market stack up to what we saw in 2017? Let’s find out today.
Whether you’re a buyer, seller, investor, or homeowner, understanding local market trends will be
critical to your success. That’s why today, we’ll be comparing the second quarter of 2018’s real
estate market to the second quarter from 2017 to determine how our Midlands area market has
changed over that time.
critical to your success. That’s why today, we’ll be comparing the second quarter of 2018’s real
estate market to the second quarter from 2017 to determine how our Midlands area market has
changed over that time.
First of all, there were slightly more active listings on our market during this year’s second quarter than
what we saw last year, with there being 4,861 active listings in Q2 of 2017 and 4,998 in Q2 of this year.
Of those listings, 75.23% sold this year, while just 71.6% of those listed last year successfully
closed.
what we saw last year, with there being 4,861 active listings in Q2 of 2017 and 4,998 in Q2 of this year.
Of those listings, 75.23% sold this year, while just 71.6% of those listed last year successfully
closed.
The average list and sale prices have also risen. This year, the average sale price during our second
quarter was $200,250. During the second quarter of 2017, though, the average sale price was
$195,382. This constitutes a year-over-year increase of 9.75%. Of course, this figure only accounts
for the average property values. Not every home in the Midlands rose in value by this amount,
but the statistic does give us a good indication of how our market has developed.
quarter was $200,250. During the second quarter of 2017, though, the average sale price was
$195,382. This constitutes a year-over-year increase of 9.75%. Of course, this figure only accounts
for the average property values. Not every home in the Midlands rose in value by this amount,
but the statistic does give us a good indication of how our market has developed.
Another area of change we’ve seen in the last year is the rate at which homes are selling. Homes
during this year’s second quarter spent an average of 56 days on the market, while homes during the
second quarter of 2017 spent an average of 65 days on the market.
during this year’s second quarter spent an average of 56 days on the market, while homes during the
second quarter of 2017 spent an average of 65 days on the market.
With all of these factors in mind, it’s clear that our real estate market right now is very solid. Those
who are thinking of buying have a great opportunity to do so. In fact, the faster you make your
home purchase, the better.
who are thinking of buying have a great opportunity to do so. In fact, the faster you make your
home purchase, the better.
So, if you have any other questions, would like more information, or would like our help in making
your move, feel free to give us a call or send us an email. I look forward to hearing from you soon.
your move, feel free to give us a call or send us an email. I look forward to hearing from you soon.
