Douglas County – May 2022
“The more things change, the more they stay the same.” Attributed to French writer Jean Baptiste-Alphonse Karr, it is believed he was referring to all changes that take place impacting, but not altering, the reality of a given circumstance.
This sounds much like the business of real estate. Change is constant, but the underlying reality remains the same.
People want to own their homes. Some may have the desire for the familiarity of surroundings or investing in the community, others might want long-term financial security. The reasons for buying and selling property can differ from one person to the next, but the underlying desire to call a place home is essentially the same.
This current real estate market reflects just about all of those ideas. We’ve seen several significant changes recently, yet there remains an overall continuity, a sameness to the market. Amid the fluctuations of inventory levels, mortgage interest rates, home sale prices, desired features, marketing techniques and lifestyle dynamics, buyers and sellers are very active in the real estate marketplace.
In fact, of the 1017 properties available in April for a buyer to consider who was looking to call Douglas County home, 635 sold and closed!
While the average Days on Market last April 2021 were a short 13, buyers, perhaps seeking to lock in mortgage interest rates before they rise again, saw this past April’s average at just 12.
Higher interest rates historically slow the rise of home sale prices, and that might yet occur on a greater scale. For now, the April average sales price at $886,008 saw higher equity yields for the home seller, compared to the April 2021 average sale price of $756,965.
This real estate market is in flux, and keeping up has some calling it a crazy market. Not so, says popular real estate coach and Keynote Speaker Jared James. While things are changing rapidly, they are also the same fundamentally, and Jared encourages a steadying approach, remarking, “Please stop saying the market is crazy! It’s not crazy. It’s complex. It’s complicated. It’s competitive. But that’s exactly why people need a professional representing them.”
Excellent advice. Feel free to reach out and connect with me when you need professional representation demanded by the complexities of the current marketplace. When it comes to negotiations, transaction twists and turns, and the many other real estate decisions, I have your back.
|April Stats||New Listings||Sold Listings||Average Sales Price||Average Days on Market|
Source: IDC Global & Datafloat | Information deemed reliable, but not guaranteed