If you have been thinking of buying or selling real estate in Tam O’ Shanter, knowing the current market conditions is crucial to a successful sale, regardless of whether you are buying or selling. As a seller, knowing what is happening ensures you don’t overprice your Tam O’ Shanter real estate and it sits and grows stale. If you are buying, you can rest assured that you aren’t overpaying for real estate in Tam O’ Shanter. With the inventory at an all time low, buyer demand at an all time high, prices continue to go up and this month is no different. Take a look!
Both the average and median home sales price increased compared to last month and last year! The average went up 20% and is now sitting at $813,675 while the median is up 12.6% at $690,000 for Tam O’ Shanter real estate. Closed sales went up 7.9% while pending sales went up 15.6%. The month supply is still incredibly low at 1.1. In order for a market to be balanced, we need a 6 month supply. A 1.1 month supply for real estate in Tam O’ Shanter obviously makes it very clear that our current inventory is very limited. As a seller, this basically means that your chances of listing and getting multiple offers very quickly are incredibly high. As a buyer, this essentially means that if you want to lock in an offer on real estate for sale in Tam O’ Shanter, your best bet is to work with a qualified local realtor.
For more information on real estate for sale in Tam O’ Shanter, give me a call!