Market Update – Just Released!
HOME VALUES INCREASING
Local market data just released shows that home values are continuing to increase, on average 7.5%! With a median sales price of $290k! It is still a great to time be a homeowner and real estate continues to be a great financial investment.
NOT ENOUGH HOMES ON THE MARKET TO KEEP UP WITH DEMAND
There are fewer homes on the market than ever, only 594 in March. This makes for a great seller’s market because there are many buyers out there who will be competing to purchase the very few homes that are available at their price point. Check with your Realtor to see if this is the right time for you to list your house.
BEING PREPARED MAKES YOU A COMPETITIVE BUYER
If you’re a buyer it means you need to be on your game by: 1. getting updates from your Realtor as soon as a house hits the market that meets your criteria and 2. making sure you’ve got a Realtor has prepared you well so when the right home comes up you’re ready to pull the trigger!
HOUSES SELLING QUICKLY
Homes are moving quicker than ever, only lasting on average 85 days from the day they’re listed for sale to the day that they’re purchase. Typically, a home closes (is purchased) within 30 days of going under contract (agreeing to an acceptable offer). Considering that, you can deduce that homes are usually only on the market for 55 days before they receive an acceptable offer. Other factors that can affect this number are whether the house is listed at fair market value and how many buyers there are at your home's price point.
I’d be happy to visit with you more about what’s happening in the market or answer any of your questions. Feel free to reach out! -Alyssa Needham
#GrandJunctionRealEstate #ShareGJ #WestSlopeBestSlope #IamGJ #WestSlopeCO #TheNewWest #GrandJunctionCO #GrandJunctionColorado #MesaCounty #GJCO #GJRealEstate
