Summer 2016 is officially upon us and it’s time for a recap of the May Midland County Real Estate market.
As predicted, the number of homes closed in May is up over 27% from April and in total Midland County has had nearly 400 homes closed from the beginning of the year to the end of May. Online data suggests an estimated 160 homes will close in the coming weeks.
Good news for buyers, the average home sales price has remained steady at around $144K, which is significantly lower than the average sales price at this time last year and discounts have risen slightly to 3.9%.
Although the current average days on market for homes has risen 2% to 94 from last month, we suspect that number will be much lower in the coming months. In the last two weeks, homes that accepted offers were on the market for an average of just 73 days.
For home sellers, remember the summer can be a very good time to get your home sold. And for buyers, if you see a home you like, consider acting quickly. Nice homes, that are priced well are selling very quickly.