Please click here for the full monthly newsletter.

This Is Still The Time to Sell!

December Statistics

The absorption rate in December was 33.8%. As a reminder, typically rates below 15% indicate a buyer's market and above 20% is a seller's market. While this is a seller's market, the interest rates are still low which makes it a great time to buy as well! Not knowing what may happen with the new president I would advise to take advantage of the rates now! If you are considering buying and will need a mortgage, I would highly recommend reaching out to a mortgage lender for prequalification. This way you will be prepared and have one up on other buyers.

In December total homes for sale was down 21.9% (43 homes) but the total sold was up 42.1% (32 homes). The number of pending sales was also up 28.3% (13 homes). The average sold amount was up 63.7% (up $602k on average) and the average dollar per square was up 63.8% (up $275 on average). The average days on market was up 29.3% (20 days). To get a better understanding of the right time to buy/sell, click here for a breakout by town.

Today's Rates (please check with your lender as these change regularly):

30 Yr FRM 2.87%

15 Yr FRM 2.40%

FHA 30 Year Fixed 2.35%

Jumbo 30 Year Fixed 3.35%

5/1 ARM 2.30%