Looking Back on the 2018 Real Estate Market

As we come closer to the end of the year, we’d like to wish you all a happy holiday season. Thank you so much for all of your support throughout the year; we’ve grown by 50% in our number of units sold in 2018!

Before we enter the new year, we’d like to do a quick recap of what we saw in our market throughout 2018.

The first half of the year was extremely strong and on track to exceed the units sold in 2017’s market. However, the second half slowed down a bit, meaning we’ll end up with about 1.7% fewer homes sold compared to last year.

“We’ve seen excess appreciation over the last several years, but now it’s beginning to normalize.”

A lot of people have been asking me if we’re seeing a correction in our market—we are! We’ve seen excess appreciation over the last several years, but now it’s beginning to normalize. This isn’t a bad thing. We’re not seeing prices decrease or anything—we actually anticipate a 4% to 6% increase in appreciation over the next year.

People have been seeing their homes stay on the market for longer, and some homes aren’t selling at all. This has been the case in our market as a whole. However, our team’s average days on market remains at 10, and our listing-to-sale price ratio is still at 100%. 

If you need any real estate advice, have questions, or would like some more information, feel free to reach out to us. We look forward to helping you! In the meantime, Happy Holidays!

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