March 2016 – Monthly Market Update – Fayetteville Arkansas Real Estate
March 2016 Monthly Market Update
Hey, This is Colley Bailey with Fathom Realty. Thanks for checking out another Northwest Arkansas Real Estate Market Update with me. I hope the winter treated you well.
In fact, it’s been a great couple of months for the Real Estate Market across Washington and Benton Counties. Average Sale Prices are holding steady both Year-Over-Year and Month-to-Month. Also, we have seen an almost 25% increase in properties coming on the market from January to February. And we’ve also seen a 21% increase in new properties this February compared to last February. And we’re also seeing a decrease in average days on market and median days on market since this time last year.
Good Properties have been going very quickly. In fact one of my listings just went under contract within Seven Days of hitting the market. I’ve also been seeing a lot of multiple offer situations around. So, the market is definitely still hot and will probably continue heating up even more as we move into the spring.
What that means, is that if you’ve been thinking of selling your home, now is going to be a great time to put it on the market. And notice, the homes that sell have been selling for an average of 99% of list price. What that means is if you list your home, you’ve got to be very competitive with your pricing because your competition is listing very close to the Market Price. The good news is that Market Price itself has been on the rise for the last few years.
And if you’re buying a home, realize that these properties are going quick, so don’t hesitate to put down a strong offer when you find the right house. If you wait too long, chances are somebody else will jump on it.
And if you’d like specific numbers for your city or neighborhood, I’d be happy to run a Comparative Market Analysis for you to show you how the trends of this market affect your property and your equity.
Don’t hesitate to call me at 479-856-9422 or email me at email@example.com.
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Once again, this has been Colley Bailey with Fathom Realty providing “Your Premium Real Estate Experience.” Thanks.