At PMZ Real Estate, we believe educated clients are smart clients. That’s why we’ve created Real Estate Trends.

Real Estate Trends is a new service offered at PMZ.com that allows you to check out the latest trends in the past 14 months in real estate. We have graphs broken up by county to give you a visual representation of how the market is doing. Trends like: Number of Homes for Sale vs. Sold vs. Pending, Average Home Sold Price per Square Foot, Days on Market and Median Price of Sold Homes and Average Prices of For Sale and Sold Homes.

Watch as we expand this service. Check out the latest in Real Estate Trends.

Of course we don’t have a crystal ball, so we don’t have an official answer, but Residential Manager, Phil Levin, was noticing that while home prices have been falling, the amount in which they decline each month is getting smaller and smaller. ie: January we were sitting at an average home sale price of about $258,000. Now the average home sale price is $182,000. In the months between, home values have slowed their trend downward by less and less each month. In February the average home sales price was $15,000 less than the previous month. Following respectively, $14k to $9k to $7k to now about $3k. Does this signal a change in the market? Possibly. Could we see home prices rise sooner rather than later? Maybe. It’s encouraging news at any rate. Right now is still a GREAT time to buy property, so help your clients take advantage of that.