March 2022 Single Family Home Sales – By Price Range
How you ever wondered about the average SOLD price by price range? Novella Real Estate compiles these statistics each month so we can stay on top of market activity. It is interesting to see how little inventory we have in each price range. Of course the more expensive the home the longer it takes to sell!
The Days on Market gives a homeowner a clue about how long it will take to actually sell their home. The absorption rate is a figure that assumes if no other homes enter the market, how long it will take before there are no more homes for sale. A “balanced” market is one in which there is 6-months of inventory. We haven’t seen that in quite a while.
Novella Real Estate