Recent volatility in the stock market and retreat of mortgage interest rates typically have an impact on the local real estate market. Below is a graph of sales in Brentwood over the past 2 years.
There are currently 123 homes listed for sale in Brentwood. This is up from 103 at the same time for January of the previous year.
The time it is taking to sell a home has increased from the same time a year ago. Fluctuating interest rates have decreased buyer purchasing power over the past several months. As a result, homes are staying on the market longer. However, as of this post, interest rates have retreated from about 5% in October/November and part of December to the mid 4.5% range.
The number of closed sales is down from 1 year ago.
Industry experts have reported interest rates between upper 4% range to low to mid 5% range for 2019.
I hope this information is helpful. If you have any questions or need an appraisal, send me a quick email or give me a call.