I love talking about real estate.
And there is never a shortage of people asking me about the current market. Everyone wants to know.
The answer is complicated because it depends on what ‚Äúmarket‚ÄĚ you are asking about. Are you a buyer? A seller? What price point? Location?
In general, homes are selling fast. Really fast. Unless you are talking about the luxury market (let‚Äôs say $400k and up). Those homes are taking longer to sell.
Homes between $100k and $250k in many neighborhoods are selling in days if not hours. And many with multiple offers.
How is this market compared to last year?
Compared to this time last year, there are FEWER homes on the market. And home prices (not including new construction) are up 9%. Yes, 9%! If you are a…