Critical Data and Rates
Active Listings: 308
Pending Listings: 192
Demand Rate: 62%
15 Year Mortgage Rate: 3.25%
30 Year Mortgage Rate: 3.625%
1. Market Demand…….It is about awareness.
The current Demand Rate is down 45% from the same time last year.
I received multiple offers (yesterday) on a new listing I just unveiled, my seller client accepted an offer above the list price.
Which one of these statements is true?
Both.
The Demand Rate is an overall indication of Market Direction. It is part of the data I use to determine the indicated “current market value” of a clients property.
Regardless of the current Demand Rate(increasing/decreasing) a home can be properly priced and receive an acceptable offer in a reasonable amount of time.
Demand Rate…
August 2018 = 107%
August 2019 = 62%
When you are committed to selling your property… it is not important, ‘how the market is”.
Daily Market conditions are factual and therefore neutral.
The single most important decision for committed sellers….
is selecting an agent that knows how to navigate the current conditions, regardless of what those conditions may be. Period.
2. Let’s take a look back to December 2018.
I don’t track the market data as a gimmick or to have some junk email to send my clients each month. I track it because it makes me better equipped to provide the best understanding of the market whenever my clients need to act.
This is the Monthly Value Message I shared in December 2018. It was titled…”What To Look For In 2019″. Reread this section, paying particular interest to the second to last paragraph.
The fact that current Demand is 45% lower than last year, is not a surprise.
I have no crystal ball…just professional awareness… because it’s my job.
This Month’s Prize Draw Winners
This month’s winners of the $25 Gift Card to the Original Waffle Shop are Marty Zahuranec, Wynn Myers, Miles Guralnick, and Jacqueline Wolfe
– Congratulations!
Next Month’s Prize
1 winner will receive a $100 gift card to the State Wine and Spirits Store.
To enter the prize draw, you need to join my newsletter (bottom of the page) and then simply reply to the Monthly Value Message email that is sent.
“I could agree with you, but then we’d both be wrong.”
– Harvey Specter
Todd is honest, hard working, dependable, fiercely intelligent, and extremely knowledgeable of the residential real estate business.
I trust Todd’s professional expertise, experience and thorough knowledge of the State College real estate market when buying or selling. I wouldn’t use any other real estate agent.
You’re so good at keeping in touch, Todd.
Thanks!
RECEIVE YOUR MONTHLY VALUE MESSAGE
Our monthly value message is packed with useful information. You’ll be the first to know the latest market trends and current mortgage rates along with upcoming open houses that you can view.
I certainly will not share your information with anyone else and promise to send you only valuable and relevant information.