May 2019 Hays Area Real Estate Update
The birds are singing and the flowers are blooming, but you can tell it's officially spring when the housing market starts to spring back to life. Hays is showing strong signs of buyer activity. The challenge for buyers is that the number of listings has fallen, so the housing supply is significantly tighter this year.
Why are fewer homes for sale? This is surely a result of the trends in average list prices in Hays. They have been falling steadily over the past 2 years. However, it's important to note that, in spite of the lower list prices, the average sale price has remained steady. Overall, it seems that sellers are becoming more aware and accepting of the current housing market, and are pricing homes closer to the realistic market value from the start.
In the meanwhile, the tight market will naturally result in a clearing of inventory, and may be a precursor to a healthy and robust market in the near future. We look forward to discovering what the summer 2019 buying season will bring.
When you are ready to buy or sell, consider working with one of the many skilled and experienced agents here at Readle Real Estate.