What’s the news with the real estate market in Greene County for March? I’ve analyzed the data for you, and the numbers are in.
For myself, things are picking up. There seem to be more homes on the market and homes getting offers more quickly.
In March, there were 27 homes sold. The average sales price was $226,422, 94.39% of the average list price. The average days on the market was 91 days.
Many of the houses sold were listed during slow times, more recent listings will take time to be reflected in the numbers.
As of April 6, there are 71 homes listed for sale in Greene County.
More homes are typically listed for sale during the spring market. The average sales price is up compared to last month. While this number is important to track when you are averaging out only 20-30 sales, a small amount of very large or small sales can skew the data. We should see a more clear picture further into the year.
‘Average days on the market’ is how long a home is actively for sale before it goes under contract. For March, the average was 91 days. This is up from February, which was 63, but I think we will see a decrease through April and May as buyers are beginning to look for homes again.
A positive for both buyers and sellers is a slight drop in the average mortgage rate for a 30-year fixed-rate conventional mortgage. On March 16, the average rate was 6.97%. April 5, the average rate has decreased to 6.88%, according to Bankrate. If rates continue to decrease, it will give buyers more buying power.
I think the real estate market in Greene County continues to be healthy. It would benefit if more homes were on the market, but we are seeing a slight increase and I expect to see that continue. There are still many positives for both buyers and sellers.
If you would like more insight on the market conditions or have any questions about home buying or selling, feel free to call or text me at 812-798-0204.