Month over Month statistics
As a real estate buyer, seller, or investor, understanding real estate market statistics is crucial to making informed decisions. The real estate market is constantly changing, and analyzing market data can provide insight into trends, patterns, and forecasts. By understanding real estate market statistics, sellers can understand how to maximize their profit, buyers can make informed decisions about the properties they want to buy, while investors can make strategic decisions about their investments.
Important Statistics:
- Average Sales Price: This metric represents the average price of properties sold in a particular area over the month. It can help you understand whether the real estate market is in a buyer's or seller's market, and provide insight into the current demand and supply of properties.
- Total Number of New Listings: This represents the number of new properties that are added to the market during the month. It can help you understand the level of competition and the overall supply of properties in the market.
- Average Days on Market: This represents the average number of days that a property stays on the market before it is sold. It can provide insight into how quickly properties are selling, which can indicate the level of demand in the market.
- Total Number of New Sales: This looks at the number of homes sold in a month compared to the previous month.
