Sheree MacRitchie: Making Sense of Real Estate Market Stats

Navigating Real Estate Episode 13

Every month we are inundated with the latest statistics about the real estate market. Headlines scream at us about median home price increases, inventory fluctuations, job reports, inflation, and interest rates. But what does it all mean to the average consumer? How does a seller or buyer make sense of what they are hearing and reading? And how do real estate brokers stay current so they can best advise their clients? We are excited to have Principal Broker Sheree MacRitchie here today to help us break it down.  

In this episode Ryan Buccola and Sheree MacRitchie discuss:

• The multiple terms we hear in regards to the housing market and how they differ. Median sales price vs. median list price. They are not the same. Misunderstandings can affect the mindset of buyers and sellers.
• The disconnect between what consumers think they can get for a certain price, and the reality of what is happening in the market.
• The most valuable metrics to pay attention to and communicate to your clients to help them understand value in the current marketplace.

Key takeaways:

• Inventory is a key metric to pay attention to as you search for a home and a prime driver of price.
• When looking at price trends, it’s important to look at the median sale price and the list-to-close price ratio.
• The biggest challenge today for sellers is landing on a price that accurately reflects the value of their home.