September 2016 Recap: What Has Changed From Last Year?

As far as our market goes, not much has changed in the last year. However, interest rates are still really low, so the pressure is on for both buyers and sellers to make their move.

Looking to sell your Home? Get a FREE home value report

Looking to buy a Home? Search all homes for sale

give you a better perspective on where our market is at, I’ve decided to compare some statistics on the market activity from September 2016 to that of September 2015:

• The number of homes that came onto the market rose 3% from 9,516 to 9,815.
• The number of active homes on the market increased 3.5% from 21,901 to 22,683. 
• The number of sold listings rose 6.8% from 6,969 to 7,447. 
• The month’s supply of inventory declined 2.9% from 3.14 to 3.05.

As you can see, there wasn’t a whole lot of change from last year. The reason I think we’re seeing an increase in sales is because interest rates are still really low. Freddie Mac recently came out and said that a 30-year interest rate average is at 3.42%. They also said that the 15-year average is at 2.8%.


The Fed was talking about raising interest rates this year but then postponed it until after the election. This has put a lot of pressure on buyers to act now while they are so low. A lot of sellers are also considering selling now because they want to secure their new home before those very same interest rates are raised again in 2017. So, whether you’re buying or selling, now is a great time to make a move.

If you have any questions about your home’s value or are interested in buying your first home, please don’t hesitate to give me a call or send me an email. I look forward to talking to you soon!