Here is a snapshot of the homes for sale, pending, and sold in Mount Vernon. Using this graph, you can compare the most recent month's trends with that same month from one year ago. Comparing our market this year vs. last year gives you some sense of the health of our market, but remember, there are always hidden factors and trends that might be influencing these stats. For a more complete picture of our market, or how your home might be influenced by our local trends, please give us a call.
This graphs show the average days on market, which means the number of days from the date a property is listed, until the property goes Pending. It's good to note there are usually anywhere from a couple weeks to a couple months between the date a property goes Pending to the date the sale actually closes. The graphs also show the average difference between the listing price and the selling price of a property as a percentage of list price. So if the average is 90%, if a home is listed at $100,000 it will on average sell at $90,000.
Keep in mind that the better you price your home, the quicker it should sell.
This graph shows how much of the current active listings (as a percentage) are being absorbed (or sold) each month. For instance, if there are 1,000 active listings and 100 of them sold in a given month, the rate of absorption would be 10%. 10% of the market is being sold in that given month.
This graph shows how many months supply of inventory we have in Mount Vernon based on pended homes. In other words, if no new listings were taken, how many months it would take until all properties were pending or sold. Six months of inventory is considered an average healthy market, so you can see that, like every other area we have too much inventory which puts the supply and demand out of whack and in favor of Buyers.
The best way to stay connected to what's happening in the real estate market in your area