It’s August which means it’s time for another market update! The summer is flying by and the market is continuing to progress.
“Buyer activity is strong right now, and I know all of you guys out there are busy,” said Dan Kruse, President and CEO of CENTURY 21 Affiliated.
The state numbers are consistent with what we see on our local levels! Unit sales are consistently up 4- 5 percent, with median sales up 6-7 percent across our Affiliated network. According to the National Association of Realtors, last month median sales prices are at $147,000 across the United States.
But what about affordability? “One of the reasons the median sales prices continues to rise is there is still a strong buyer demand and inventory is tight,” said Kruse. “With interest rates continuing to be low and those who have purchased homes within the last five years having equity, they have help on down payments when they go to sell. Overall affordability is still ok, but we still have to keep an eye on it if the median sales price continues to rise.”
When it comes to buyers and sellers, there are expectations we have to keep. “Because inventory is tight we have to make offers on properties because inventory is moving quickly,” said Kruse “And as always, listings are king. Make sure you’re going out and making a listing inventory because it creates good buyer activity.”
CENTURY 21 Affiliated Statistics
CENTURY 21 Affiliated agents are outperforming the market in every state we are in. We are up 10% in listing inventory, up 29% in accepted offers and up 29.9% in closings compared to 2015. “Congratulations, we couldn’t do it without all the hard work you put in on a regular basis,” said Kruse.
We just surpassed 10,000 closed transactions through the end of July and are on track to close 16,000 and beat our record from last year. Currently we are #1 in closed units and AGC! “This is a first ever for our company and thanks you for everything you do to make this a great organization,” said Kruse.
2016 also included 19 new offices this year, and we are excited to move into new territories that are out there. We want to welcome everyone to the Affiliated Family who have recently joined us.
Mark Your Calendar
October 20th is our Agent Rally where we will have a great keynote speaker, breakout sessions and big announcements on what’s to come in 2017.
Get out there and take care of your buyers and sellers and keep an eye on the market!
For more information on your local real estate, contact us!