The HBR just released their monthly market stats for September and it was another strong month. Closed sales and median sales prices were up for both single family homes and condos from last year. Days on market trended down for condos and single family which signals a more competitive market overthis time last year.
The Median for single family homes was $760,000, which is slightly down from last month. The Median sales price for condos was $425,000which ties the record high. Demand is high for this price range and many millennial and baby boomer buyers are looking for their 1st home or to downsize into this price range.
I have been dealing with more and more first time home buyers. It's more important than ever to get pre-qualified with a great lender before looking for properties and submitting offers. Knowing exactly the types of loans available will allow your realtor to write the strongest offer for you.
