Market Updates

Market Updates

Updates in the current real estate market

June Market Updates for Medina & Gibson County

July 11, 2020

Examining our market statistics for June, we are seeing a bit more movement in homes as we are moving further into the summer.  In Gibson County, we saw 69 new homes to market (up 19% from 2019) as well as 75 homes sold (up 12% from 2019).  Consistent with the past few months in Gibson County we are seeing the median price go up from the year prior (currently $149,900, up 9% from 2019).  As far as average days on the market, we are seeing an increase, up 30% from 2019 to 66 days on the market this year in June.  

Looking at Medina specifically, we are seeing more homes sold in the month of June than in 2019 (29 homes, up 6%) as well as a very close median price as in 2019 ($216,200, down 1%).  We are seeing 22 new homes to market this month, up 120% from 2019.  Many of these homes listed during the month of June were new constructions.  We are seeing a a large increase on the market, with an average of 53 days, up 51% from 2019.  

COVID has interrupted the real estate market to some extent in the fact that some people are putting off moving during these uncertain times, however the market is quickly adapting.  We have a completely touch free process available  when buying and selling a home that is available to everyone.  Taking advantage of things like digital signatures, virtual showings, and mailable closing documents helps provide excellent service while staying safe.

Although I feel like somewhat of a broken record, I’m going to say it again – we don’t have enough houses on the market to meet demand right now, and I am seeing sellers getting higher cost per square foot.  

If you are thinking about selling – NOW IS THE TIME if you want to get a higher value for your home.  Right now, because less people are getting out and about in person, marketing your home properly within the market and online is KEY.  Making sure that your home is well photographed, videoed, and presented in it’s best light is imperative when it comes to selling fast.  As a marketing agent, I know what it takes to market your home to sell.  Visit my “in the market” tab to find out more about my process, or text me at 731-697-8558 to hear more about what I can do to help you.  

If you are thinking about buying, please, please, please get pre-approved, and check out my buying tab to get some more details on what you can do to get prepared for this process.   Are you not sure where to start?  I’m happy to walk through some important options for you to consider when buying a home, as well as point you towards some of the best lenders and resources available to help get you on the road to homeownership.  

 

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