As we head into September, buyers are still making moves, but they are also becoming increasingly selective. Pending sales increased year over year for both single-family homes and villas. At the same time, homes are taking longer to sell, median prices are under pressure, and buyers appear increasingly willing to distinguish between properties that are positioned well and those that are not.
One interesting trend is that the $600K–$1M market had the highest activity and the shortest median market time is at 37 days, followed closely by properties over $1M at 39 days. By comparison, homes under $400K took a median of 60 days to sell. A lower price doesn't necessarily mean a faster sale. Another number that caught our attention was 9—MLS tells us the median number of showings before a property goes under contract.
For sellers, this can be a helpful gauge. If a home isn't getting showings, it may be time to revisit price and positioning. If it's getting plenty of showings but no offers, buyer feedback becomes especially important. The market is active, but increasingly property-specific. Understanding how your home—or the home you're considering—fits within its particular price point and competition can make all the difference. The team at Herman and Davis Properties knows that the selection of an agent to represent you in the buying or selling of your home is a major decision. Our team has been widely recognized for integrity and excellence for many years. We love where we live and have the experience and successful track record you can count on!
