Barker and Hedges Real Estate Blog

Market Update: 2017 vs. 2018

It’s time to look back at 2017 and forward to what we can predict for our market in 2018.

 

Now 2018 is underway, it’s time we take a look back at what we saw from our market in 2017, as well as look forward to what we should expect for the rest of this year.


Last year, we predicted that pricing would trend upwards by approximately 5%. What actually happened was that prices rose by 7%, with the median sales price having increased to $246,000.

Inventory reached all-time lows last year, with around 13,300 homes on the market at the time. Now, inventory is actually down to 11,300.

Interest rates today are even lower than
what we saw in 2017 as we enter the spring season.

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