Scouting Report: Vol. 4, Issue 3 - Scout Realty Co.

Scouting Report: Vol. 4, Issue 3

 

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Huzzah! This rainy, chilly “Spring” has had few bright spots, but the real sunny outlook comes from what’s happening on the streets. New listings jumped from February 2018, by 44.2% – promising news for buyers! Additionally, new listings inched 1.2% over what was available in March 2017, meaning that this March was the best for new listings since 2010. There were 2,371 closings in March 2018 – 31.3% more than the month prior – and overall inventory dipped slightly to 1.6 months, with a total of 3,844 active residential listings across the metro area. It’s a great time for buyers to emerge from hibernation, as there are plenty of quality homes to choose from. And sellers, now that your gardens are getting lush – and exterior painting is more of a possibility – maybe it’s a good time to get in on the action? Scouts can help both buyers and sellers make their daydreams a reality.

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  • Average sale price in the metro area for 2018 through March was $435,000, a 7.6% increase from this time last year.
  • The median sale price also increased 8.8% to $385,000 in the same comparison.

Interest Rates:

  • Rates have dipped slightly at 4.375% for a 30-year, fixed, conventional with excellent credit.

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Scout Realty Co. strives to keep it real, but with that being said, all information contained within this report is deemed reliable but not guaranteed at the time of posting.