Welcome back, everyone! September has come to an end, and it's time to dive into the real estate stats of the month. The market is always buzzing with activity, and understanding the trends can be crucial, whether you're planning to buy, sell, or invest. In this blog post, we'll break down the September statistics, giving you an insight into the current state of the real estate market. So, buckle up and let's explore the numbers!

Homes for Sale: A Closer Look

In September, there were 11,445 homes available for sale, reflecting an 8% increase from the previous month. However, when compared to last year, there was a 14% decrease, indicating a trend of fewer homes being sold this September compared to the previous year.

New Listings and Median Sale Price

New listings stood at 6,158 homes, showing an 11% decrease from the previous month and a significant 20% decrease year-over-year. Despite this, the median home sale price was $13, experiencing a slight decrease of 2.5% month over month but a 4% increase year-over-year. This indicates a positive trend where home prices are gradually rising, encouraging sellers to make their move in the market.

Pending and Closed Homes

The number of pending homes in September was 3,321, indicating a substantial 31% decrease from the previous month and a 27% decrease year-over-year. Similarly, closed homes amounted to 3,582, down by 30% from the previous month and 34% year-over-year. This decline suggests a decrease in the number of homes going under contract and closing, possibly due to market dynamics and buyer behaviors.

Median Days on the Market

The median days on the market were 13, which is an 8% increase from the previous month. However, when compared to the previous year, homes were selling faster, reflecting a 7% decrease. This implies that while homes are staying on the market a little longer compared to the previous month, the market is still relatively brisk compared to the previous year.

Months of Supply: A Seller's Market

With 2.6 months of supply, the market is favoring sellers. This number represents a 133% increase from the previous month and year-over-year. A lower supply of homes indicates a seller's market, where there's high demand and limited inventory. In such a market, sellers often have the upper hand, as buyers may need to pay more for properties that are in demand.

What It Means for You

In summary, the September real estate market paints a picture of a seller's paradise. With fewer homes for sale, increasing prices, and a limited inventory, sellers have a great opportunity to make profitable deals. If you're considering selling your property, now might be an excellent time to do so.

Whether you're looking to buy, sell, or invest, understanding these market trends is vital. If you need assistance navigating the real estate landscape, don't hesitate to reach out to us at Reagan Thor Real Estate Group. We're here to help you make informed decisions and find the perfect property tailored to your needs.

Thank you for joining us in this real estate journey! If you have any questions or if you're ready to make your move in the market, contact us today. Until next time, happy real estate adventures!