After all, the list-to-sales ratio is holding steady, the total year-to-date home sales has increased and the average sales price has increased from last year.
If you’re considering entering the market here in Sheridan as either a buyer or a seller, we strongly encourage you to act now. After all, the market is truly thriving, meaning you have a great opportunity to enjoy a successful outcome.
A Closer Look at Our Mid 2015 Sheridan Real Estate Market Report
Here’s an overview of the recent activity on the local housing market, according to data through the end of July:
- The absorption rate is just above 6 months and below 7 months. This is fantastic, especially given that a good balanced rate is 6 months.
- The list to sold ratio is holding at 95 percent.
- Year-to-date, 277 homes have closed, compared with 229 for the same period last year.
- In other words, there has been a 21 percent increase in the total number of homes sold.
- Days on the Market is down to 62 days from 106 for the same period last year.
- The average sales price has increased, from $224,000 last year to $248,000 this year.
- All price points have seen more sales this year.
- What’s more, we’ve seen 14 sales above $500,000, as compared to only 3 for the same period last year.
- There are 629 active listings on the MLS for buyers to look at.
All of this activity is good news all around, for both buyers and sellers. Sellers will find that they’re getting great prices on their properties, and in many cases, turning a profit.
Meanwhile, buyers will find that they have plenty of incredible properties to choose from and that they’re able to settle into their new home quicker than they were expecting.
This recent activity is good news even for people who aren’t currently home buyers or sellers. After all, this activity suggests that the market continues to become more robust, which is a great indicator for the health of our local economy. And that’s something we should all celebrate!
We’re Your Dedicated Sheridan, WY Real Estate Experts!
We would love to take the time to discuss with you the market trends we’re seeing and to also help you plan the best way to navigate the market to ensure the most successful outcome possible for you and your family.
Until next time,