Capital District 30 Day Market Stats
New Listings:919 ? 12%
Sales Pending: 1905 ? 7%
Homes Sold:561 ? 14%
Expired Listings:432 ? 49%
The latest market stats are a great indicator of what is to come and where the local market is headed. When new listings are on the rise it typically means that the market is headed in a positive direction and buyers will soon be on the hunt for their new home!
New listings, as to be expected, are down this month. Most likely due to the cold and snow being more extreme than usual. Pending sales however are up indicating the number of people making the move after the first of the year. When looking at these two numbers was can see that the inventory on the market is getting smaller which is great for sellers! Homes that have closed this month is down which is also typical for this time of year. Expired listings are the big change this month with an almost 50% reduction. This is due to few listings expiring this early on in the year but also the amount that have sold rather than expired. A snapshot of all of these stats together make for a fabulous outlook for the spring 2015 market!
The media agrees that 2015 is going to be the best year in real estate in almost 10 years! Interest rates are the lowest they have ever been with a potential of grabbing a mortgage at a sweet 2.75%! This means that buyers will be out in full force in the upcoming months looking for their new home. Inventory is also on the low side due to an active 2014, making it the perfect storm for buying and selling! If you or someone you know is even thinking about buying OR selling please get in touch with me so we can talk about what this year is going to have to offer you!