MANOA – SINGLE FAMILY HOME END OF MARCH MARKET UPDATE
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ANALYSIS
The Months Supply of Inventory is a key indicator of the balance between supply and demand in the market. With a low value of 2.65, it suggests that there is a limited supply of homes available relative to the level of demand. This can create a competitive environment for sellers, as buyers may be more willing to pay higher prices in order to secure a property.
The Median Days Homes are On the Market is a reflection of how quickly properties are selling. With an average of only 11 days on the market, it is clear that there is high demand for homes in this market. Sellers can expect a fast sale if their property is priced competitively and marketed effectively.
The Sold to List Price Percentage of 102.3% is a positive sign for sellers, indicating that homes are selling for slightly above their list price on average. This suggests that buyers are willing to pay a premium for properties in this market, which can benefit sellers in terms of maximizing their sale price.
Finally, the Median Sold Price of $1,520,000 gives sellers an idea of the potential value of their property in this market. With a strong median price, sellers can expect to fetch a competitive price for their home if it is well-maintained and presented effectively.
In conclusion, the combination of a low Months Supply of Inventory, decreasing inventory levels, fast turnaround times, high sold to list price percentage, and strong median sold price all point towards a favorable market for sellers. By understanding these correlations, sellers can make informed decisions when listing their property and maximize their chances of a successful sale.
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