April 15th Market Update
Is the tariff trade war chaos impacting the housing market?
I don’t think anyone can answer that question yet.
But let’s take a look back at the residential real estate market in Columbia County for the month of March and Q1…. because it was pretty good!
📊Mach was a very active month with a surge in new listings hitting the market. Both the number of homes going under contract and the number of homes sold were up significantly as well.
For the first quarter of 2025, the median sale price was $570k, up 24% over Q1 2024
The number of Homes sold in Q1 was up 19% over LY.
The number of new listings was up 11%. The number of homes placed under contract was up 17.5%
Average days on market was 80 days, down 2 days from Q1 2024. And the sale price to list price ratio was 96% for the Q1 up slightly from LY.
🏘️Today there are 168 available homes on the market. The median list price is $650K with 27% of the available inventory over $1M and 61% of the available inventory bw 250K and 750K.
📉Last week was total chaos and who knows what tomorrow will bring, but the 1st two days of this week saw much calmer bond markets allowing the mortgage rates to slide back down below 7%. The question is will the rates keep jumping around or will they continue to decline. It would be great if rates would get closer to 6% and stay there for an extended period of time.
If you are trying to make a move this year, it’s understandable to be nervous about the chaotic state of the economy. While rates bounce around, it’s wise to be conservative and avoid shopping at the top of your price range.
To all the potential sellers out there, condition and how your home is presented matters. Most buyers are looking for move in ready condition and looking to avoid major or even minor renovations. You have to get the price right from day one or your home will linger for longer and eventually require price reductions.
👋If you are thinking about making a move this year, give me a call. I’d love the opportunity to discuss your real estate plans with you.
*Data from CGNDMLS on 4/15/25
#colombiacountyrealestate #jensesmarealestate #beachandbartolorealtors #marketupdate
