In the past two months, the average price per square foot for homes that have already sold went down after reaching a peak in November. It's worth noting that November and December usually see a seasonal slowdown in real estate activity, but here's the interesting part – the prices for homes that are about to be sold or are already in the process of being sold are actually going up. Despite the usual slowdown during these months, we're picking up pace faster than usual. We believe this trend can't continue for too long; either the prices for sold homes will increase, or the prices for homes in the process of being sold will stabilize. Given the current market conditions, we anticipate prices for sold homes to start moving higher again. 📊
Right now, the average price per square foot for homes that might be sold soon is $335.80, which is 1.9% higher than it was on December 15.
Looking into the future, The Cromford Report estimates for the average monthly sales price per square foot on February 15 to be $289.77, showing a 1.7% increase from January 15. 📈
HousingWire.com is projecting a 15% growth this year!
🏡 Want to know what this means for you? Ready to make your next move in real estate? We're here for you! If you have any questions, need personalized advice, or want to explore your real estate options further, don't hesitate to reach out so you can navigate the real estate terrain confidently and with hope! 🌟
