I’ve got a thorough market update for you today regarding the Brunswick real estate market.
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For homes priced under $150,000 we are in dire need of inventory. We have less than one month available. Based on the current pending properties, we have an average of fewer than 14 days on market.
We’ve got a comprehensive market update to share with you today. We’ll look at every detail of the Brunswick market, as well as how the market changes as you go up in price.
Right now, the Brunswick market is in a seller’s market overall. The number of properties that have come on the market has increased from 66 to 90 in just one month. Pending properties have stayed pretty flat, and our inventory is at about 1.3 months. If no new listings came on the market, our inventory would be depleted in just over a month. The average days on market is shrinking too. We’ve dropped from 57 days to only 48.
What does this mean if you’re thinking about buying and selling? For sellers, you need to make sure your home is priced at market value and presented well. Making the small improvements will lead to you getting a maximum price.
We’re seeing a bit of a different market for condos. We’re still in a seller’s market with 1.7 months of inventory, but our pending inventory is at 2.1 months. This may be indicative of a bit of a slowdown.
As you already know, real estate is hyperlocal and each segment of the market can have its own trends. Here’s a quick look at all of the price points we’ve been tracking and what kind of numbers each of them is seeing:
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We looked at every market detail.
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For homes priced under $150,000 we are in dire need of inventory. We have less than one month available. Based on the current pending properties, we have an average of fewer than 14 days on market.
Homes in the $150,000 to $200,000 range have seen a big increase in inventory, going from 10 properties for sale to 21. There has been some strong buyer activity in this market, with just 0.8 months of pending inventory. These properties are sitting on the market a bit longer than they have been, but they are still selling for good prices.
For homes in the $200,000 to $250,000 range, we’re still seeing strong sale numbers. Homes in the $250,000 to $300,000 range aren’t seeing as much of an increase. In fact, we might see this price point slowly shift into a neutral market.
For the luxury market above $300,000, this is a buyer’s market with a lot of inventory. Around nine months to be exact. However, we saw a ton of homes go under contract last month and our pending inventory was at just 1.8 months. This is a great price point for sellers that are still out there. Even though inventory is high, the best homes are still moving quickly.
If you have any questions for us about the Brunswick market or if you’re looking to buy or sell a home, give us a call or send us an email. We would love to hear from you soon.
