In an ideal market the amount of homes available for sale would equal six months of sales. More than that favors a buyer and less than that favors a seller. Here is a breakdown of brightmoor over the past three years October to Ocotber:
3 years ago 18 homes sold for an average of $230,064. They were on the market for an average of 39 days.
2 years ago there were 16 homes that sold for an average of $209,106. They were on the market for an average of 46 days.
Last year there were 8 homes that sold for an average of $196,750. They were on the market for an average of 96 days.
Currently there are 12 homes on the market right now and 2 homes scheduled to close in the near future. The current homes on the market are advertised for an average price of $214,408. They have been on the market for an average of 118 days.
Based on the data availble for the past three years; the trend is favoring the buyers right now as home sales dropped off dramatically two years ago to last year. Based on last year there is over a year supply of homes on the market right now....
Dave diCecco
Realtor/Broker
www.davedicecco.com
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