Market Update

Market climate - Valmonte There are currently 16 homes on the market, approximately double the amount year-over-year, and near the highest level in the current market cycle The absorption rate is 4.7 months, and nearing the peak of 6.4 months supply in October 2014   Prices on a square foot basis are near record highs ($734/ft) Days on Market for the last quarter are at record lows (41 days)...

2017 started off great.  13 homes sold in the first quarter within 97% of the asking price.  But, as in the past, sellers are starting to feel confident and as a result we are seeing "optimistic" pricing.  I don't blame sellers.  I, like many realtors, am an optimist (you sort of have to be in order to survive in this career).  We tell our clients "prices are rising," or  "there's no inventory!" and...