As we start the fourth quarter of 2021, homeowners are sitting on top of a heap of appreciation. Annual median price growth has been unprecedented. Pandemic-driven moves, historically low interest rates, and limited inventory have all played into this phenomenon.
The third quarter saw price growth start to level out as many sellers have stair-stepped their pricing up based on growth in the first half of the year. That has reduced the average list-to-sale price ratios compared to the spring market; however, the average is still over list price. Days on market have also inched up, but continue to be brisk. Inventory has increased some as we find ourselves settling into fall, but demand still abounds with many buyers eager to secure a low interest rate.
You can always count on me to keep you well informed. I am a committed student of the market who continually researches the trends and understands the value of sharing this knowledge to empower strong decisions. Please reach out anytime, it is my pleasure to get your questions answered or help you embark on your next move.