It may be fall, but that doesn’t mean the local Tam O’ Shanter real estate market is cooling down with the temperatures! In fact, homes for sale in Tam O’ Shanter are still considered a hot market. The average sold price is up 20.3% at $847,590 while the median is up 13.8% at $740,000. The average percentage of list price is 105%. This basically indicates the negotiation power. The average price per square foot is up 13.2% at $378. This is all good news for sellers as it means their home’s value is likely up. Of course working with a Tam O’ Shanter realtor can give you a more hands on experience as well as detailed market analysis. New listings are also up 9.2%, which is good news as the local Tam O’ Shanter real estate needs the new inventory with all the buyer demand. Unfortunately, homes for sale are down 5.1%. Pending sales are up 10.4% and closed sales are up 6.5%. Median days on market is 7 while the average is 19. This means that homes are pending within less than a month, which continues to enforce the fact that Tam O’ Shanter real estate is indeed a competitive market, which is why working with a Tam O’ Shanter realtor is more important than ever. They can help you navigate this process as you search for a home for sale in Tam O’ Shanter. Especially since the month supply is currently at 1.1. A balanced market is when there is a 6 month supply.
Knowing what is happening with real estate in Tam O’ Shanter is crucial whether you are a seller or a buyer. As a seller, you get an idea of how long, on average, your home could sit on the market, what a good list price is as well as the square footage costs. As a buyer, you can feel confident that you made a competitive offer as well as have a good idea of what you could spend on real estate in Tam O’ Shanter. In a market that has low inventory like this neighborhood, the more you know, the better chance you have at not only finding that dream home, but also having your offer accepted. As previously mentioned, aligning yourself with a Tam O’ Shanter realtor is a great way to achieve this with minimal stress or head ache. For more information on real estate in Tam O’ Shanter, give me a call. I would be happy to help!