Market Watch101418

Headline: Prices up! … well maybe not yet

Headline: “Hamilton Co. Home prices up 10%!!!”  It’s true the “Average” of sales price is up 10%. This is the result of higher price points making up the pool of data being averaged, not because the “Average Home” is worth 10% more today than 1 year ago. Inventory of deeply discounted Bank Owned/Short Sale/Distressed homes has decreased, we are moving toward a more normal resale market, & of course the “average sales price” will go up. The Real Good news for Sellers  is that active For Sale Home Inventory is at Extremely low levels, and Buyer Activity is recovering… Hamilton Co. “Technically” is a Seller’s Market..(3.7+- months supply, LP <$500k).  Prices should firm up, but I don’t expect huge price run-ups,  just watch the New Construction activity as they can produce a near endless supply. Contact me if you’d like a current free-no obligation Market Analysis to see where you stand today.

 By Tracy Stepp,