Local Market Conditions - December 2019

Here are the local real estate market stats just published for December, 2019.

The months of available housing inventory actually reduced over the last month (down to 2.2 from 2.5), as well as over the last year (down from 2.8 a year ago), indicating that the local market is becoming an even stronger Seller's market.

A healthy housing market, where Buyers and Sellers are on equal footing, is 6 months' worth of available housing inventory.

Buyers need to keep this in mind when searching for homes. Trying to find a "deal" in today's market is going to be challenging, and Buyers should expect to continue to pay about 98% of the list price - as long as the property is priced right.