Uncategorized September 1, 2017

Tam O’ Shanter Real Estate Update

If you have been thinking of listing or buying Tam O’ Shanter real estate, knowing what is happening in our local market makes all the difference. As a buyer, you can use this info as a guide for an offer price while a seller can rest assured they aren’t listing too low or too high, both of which can have consequences. Of course, using a qualified Tam O’ Shanter realtor in both scenarios is crucial for a good experience. They not only have good working relationships with other Tam O’ Shanter realtors, but they can help you navigate any bumps that may occur. So how is our local neighborhood doing? Check it out!

Both the median and average sold price for Tam O’ Shanter real estate is up! Which makes this a great time for sellers to list. The average is up 20% at $848,867 and the median is up 13.8% at $740,000. The average price per square foot is also up 13.2% at $378. The average percentage of list price (buyers, this gives you some insight on your negotiation power) is up 2% at 105.5%. Which means, on average, Tam O’ Shanter real estate is getting over asking. There is good news for buyers as new listings are up 9.2%. Unfortunately the amount of total homes for sale is actually down 5.2%. Pending homes are up 10.7% and closed sales are up 5.7%. The median days on the market is 7 and the average days on the market is 19 which means homes are selling quickly. This is no surprise as the current month supply is at a 1. In order for a market to be balanced, there needs to be a 6 month supply. If you are looking for a Tam O’ Shanter realtor, let me know. I would be happy to assist you in the process of listing or buying a home for sale in Tam O’ Shanter.