MLS data is showing us that we’re likely near the peak of the market.</p.

I get asked a lot about when we’ll know if we’re reaching the peak of this market. I have some statistics from our regional MLS that I want to share with you. I think they give us some idea of where the market’s headed: **Average sales price.** In January of 2020, the average sales price was around $295,000. In January of 2021, the average sales price was $321,000. In September, the average sales price reached $357,000. **Homes for sale.** In January of 2020, there were 4,000 homes available. In January of 2021, there were only 2,000. Inventory is really low. In September of 2021, there were still only 2,000 available, when there should normally be 4,000. That's why we continue to see prices go up. **Days on market.** We had 49 days in January of 2020, 25 days in January of 2021, and 15 days in September of 2021. As far as days on market, it almost halved every step there. That's amazing, right? “I think we’re very close to a peak in the market.” **Average list-to-sales price ratio.** This is the statistic that I believe will show us where the market is going. In January of 2020, the average list-to-sales price ratio was 97.5%. In January of 2021, it was 100.2%. In September of 2021, it was almost 102%. However, in May of 2021, it was 104% and declined from then on. I believe that's a tell-tale sign that the market has started to change. About two months ago, I noticed that we were having fewer showings and offers at the same locations and at the same prices. Those are all signs of buyer fatigue. Buyers are tired and fed up. It's a natural market cycle. Have we hit the peak? I think we're very close to it, but now's still a great time to sell your house for top dollar. If you're thinking about selling or if you want to know the value of your house, feel free to give me a call. I'd love to help you look at your neighborhood data and learn what's going on to see if you can still sell at or above market value. I look forward to hearing from you.