Trying to get the September Market Reports done is somewhat of a commentary on the level of activity in our office! October has us working with more new Buyers and Sellers than we would have thought for this time of year!
September saw fewer closings, fewer pending sales and fewer current listings than the previous month in Brunswick.
Compared to Brunswick’s August numbers, Current Listings decreased by 2 to 126 at the end of September, the number of Pending Home Sales decreased from 35 to 25, and 22 Brunswick Home Sales closed in September, compared to 37 sales in August.
Looking at Absorption Rates, during the past 6 months, Brunswick had a total of 167 sales of single family homes, or an average of 27.83 home sales per month. With 126 current listings, that would translate to 4.53 months worth of inventory. Remember, 6 months of inventory is considered a Balanced Market; More than 6 months of inventory is considered more favorable to Buyers (a Buyers’ Market); and Less than 6 months of inventory is considered more favorable to Sellers (a Sellers’ Market).
If you’ve been watching the recent stock market activity, real estate may seem like a great investment, and mortgage interest rates remain at 12-month lows.
Contact us today if you have questions, or want to start the Home Buying or Home Selling process!