Critical Data and Rates

Active Listings: 256
Pending Listings: 288
Demand Rate: 113%

15 Year Mortgage Rate: 3.37%
30 Year Mortgage Rate: 4.00%

1. Has Peak Passed? What Does That Mean?

Total Number of Closed Residential Transactions

The Demand Rate I track, post and share each month is the relationship between Active Listings (sellers) and Pending Listings( buyers). The ratio between these two numbers is the Demand Rate.

On approximately the 3rd Business day of each month I pull these numbers from the Centre County Association of Realtors MLS. Which means, the June 2019 Demand Rate posted above shows the activity for May 2019. Each posted Demand Rate consists of the data for the previous month.

(Click HERE to see demand rates and other primary market data on my website.)

Has 2019 Peak Demand passed? Yes, probably.

But Peak Season doesn’t simply end, it fades away. You can review the passed 5 years of Demand Rates HERE.

The drop in demand from the May 2019 to June 2019 is not that dramatic.

Bottom Line…. the selling season has legs. What sellers need to be made aware of, is the legs get shorter each month after peak demand has been reached.

Finally…The Demand Rate by itself, is not an indication of the direction of property values.

Competently Determining Indicated Fair Market Value for a property on behalf of my clients is as easy as studying property values every day for 24 years, having a clear understanding of how markets work, being confident enough to tell the truth and ethical enough to walk away from some transactions before getting involved.

Determining the correct “unveiling or initial” listing price is very important. At times (especially when markets begin to shift trajectory) it can be challenging. Just as important as the initial list price is a sellers reaction time. When a property is posted to the Multiple Listing Service and does not receive an acceptable offer in a reasonable amount of time (this time of year in Centre County that would be every 7 to 14 days) price adjustments must be made.

2. It is Summer Time! Got any Projects Planned?

Then you must review THIS first.

This Month’s Prize Draw Winners

This month’s winners of the $50 gift cards to Faccia Luna are Phyllis Hoffman and Stephanie Mullin – Congratulations!

Next Month’s Prize

2 winners will each receive a $50 gift card to Tussey Mountain Fun Centre.

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.

Cate, STATE COLLEGE

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.

Gregory, STATE COLLEGE

You’re so good at keeping in touch, Todd.
Thanks!

Betsy, STATE COLLEGE

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.