Hot off the local MLS presses – the March 2015 North Oaks real estate market update! We’re heading into the spring homebuying season so we thought we’d share the news with you, just in case you’re thinking of buying or selling a home in North Oaks.
News for North Oaks Home Buyers
There will be lots more homes to look at this spring compared to last, especially if you get into the market right now. In March (the MLS releases statistics a month late) new listings increased more than 9 percent. Homeowners are apparently feeling more confident that they can sell their homes and actually make some money off of them, unlike in years past.
The best news for North Oaks homebuyers is that the inventory of available homes has increased almost 36 percent over last year.
News for North Oaks Homeowners
The good news for North Oaks homeowners hoping to sell their homes is that the median sales price has increased more than 22 percent over last year and now sits at $651,750. Homeowners are receiving just a bit more than 92 percent of the original asking price.
In March 2014, North Oaks homes for sale remained on the market an average of 265 days. This year, they’re selling quicker – remaining on the market 171 days, on average.
Overall, there is something to like in the latest North Oaks housing market statistics for both potential home buyers and sellers.
Let the spring home sale market begin!