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What’s Going On With Our Area Market

Data proves the market is shifting in our area, which is great for buyers.

The No. 1 question we get from people is: How’s the market? Are you wondering that today? We work with a tremendous number of brokerage that has over 400 agents, so we have access to a lot of data. As we track that data, we can tell what’s going on with the market, and we are here to share that with you today.

Six months ago in Jefferson County, there were 2,314 active listings. Also, we had 1.5 months of inventory and a 66.2% under-contract rate. Currently, we have 2,438 active listings, 2.8 months of inventory, and an under-contract rate of 35%. One important change is that we’ve been in a strong seller’s market but we’re slowly shifting to a buyer’s market. Therefore, it is a fantastic time to buy if you are looking for a home.

“The market is great for buyers.”

As of today, a 30-year mortgage rate is at about 6.2% to 6.5%. Historically, that is still well below average, which is great news if you’re looking to purchase. Also, as we mentioned, there are more active listings today, which means there are more options for you to look at. In fact, there’s almost double the amount of inventory compared to six months ago.

In addition, the under-contract rate has gone down, which means that buyers have more time to slow down and look at houses. They don’t have to be in a hurry, so they can make better decisions.

Overall, this is a wonderful time to buy in Jefferson County if you are in the market for a new home. Reach out to anyone on our team, and we can help you find the data for your favorite area and make an informed decision. Call or email us anytime!

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