Looking at the statistics for Gibson County, average days on market is 49, which is actually up 8% from last year. This means homes are staying on the market just a little bit longer than they were a year ago. New homes to market is 60, which is 33% down, which also lends to homes sold, which is down 58%. We don’t have enough homes on the market right now to sell, therefore inventory is lower and there’s fewer homes sold. However, the median price has gone up significantly, 118%. This median price in Gibson County is $135,000. The reason why the median price is going up is because inventory is low and there’s fewer homes in the market – this means it’s a seller’s market and people can charge more for their houses.
In Medina specifically, it’s a similar situation. Homes on the market and homes sold are down, average days on the market is up just a smidge, and the median price in Medina is down 3% which is surprising to me considering the inventory levels that are on the market.
If you’re listing your house, this means great things for you. It means less competition – fewer houses to compete against. This means that you’re going to be able to charge more per square foot. Prices are going to be higher. Medina is a very hot market because of the school system, a lot of people wanting to move into Medina so lower competition means a higher price for you.
If you’re purchasing, YOU BETTER BE PRE-QUALIFIED! The houses are not going to stay on the market very long. So always get pre-qualified before you even start shopping for a house, know what you can afford before you start shopping, and your wish list. For a list of lenders, visit my resources tab. If you are considering buying a house, check out the my guide on the steps of a real estate transaction.
Have you been considering selling your home? Let me get you in the market. As a marketing agent, I work to promote your home and position it in the market to get the best results. With a careful eye on what the competition is doing and special attention to the presentation of your home, I help make the selling process easier and more enjoyable. For more information on how I get your home in the market, check out my listing page. To hear from some of my previous clients, check out some of my reviews.
Do you have questions on what all this means for you, or what I think this means for your house? Text/call me at 731-697-8558 or send me an e-mail at email@example.com.