May 2nd: RE SUMMARY

Keenan Coit, Coldwell Banker Distinctive Properties

Author

Keenan Coit
May 02, 2022

We've been talking a lot about interest rates and how they have not yet had an effect on the real estate market. This seems to be changing. With the rate increasing over 1.5% in the last three months, we are starting to see a slight increase in inventory. Nationwide, new single family home sales were down 8.6%, which is the lowest since November 2021. While inventory levels are still low, we will continue to see how much of an effect interest rates will have in the next few months. The 30 Yr. Fixed average is 5.41%!!

  • There are currently 264 active homes on the market in Mesa County. This is a slight increase from last week

  • The average list price of those active homes is $624,995

  • The average days on market for those active homes is 46.

  • There are only 50 active single family homes below $400,000