How Far Have Prices Fallen?

Hey everyone! Jason and Missy Improta with The Improta Team, here at eXp.

Home prices have NOT fallen that far!

The typical home in the United States right now, is selling for about $383,000.

Which is down from the peak last year in June. By about $4000. That’s less than 1% down from the peak!

So Redfin had some key takeaways :

• Price declines have actually been shrinking for the last two months.

• The median asking price of a newly listed home was already up .3% year over year. So we’re going back up.

• Prices fell in 23 metros with the biggest drops in Austin Texas (11%) and Las Vegas (8.7%)

• And prices rose most in areas like Providence, Rhode Island, Milwaukee, and Miami.

So again, what really matters is what’s actually happening out there, and that’s what we want to share with you.

And these percentages are nationwide, which doesn’t really even take into account the craziness of the real estate market in Los Angeles County.

We’re still seeing multiple offers. We’re still seeing prices going over asking.

If you have a good product, and it’s priced correctly, and presented well, it’s a great time to be a seller!

So, if you have any questions about the market, or your property, give us a call!