Current Market Trends
March 23, 2020 - As we all are aware we are in uncertain times right now. Covid-19 has brought so much to a halt throughout the world, but we will get through it. Now it is just a matter of everyone being safe and adjusting our lives while we try to keep the spreading to a minimum. As far as the Gillette Real Estate market goes, it is slowing down but continuing to have some movement. Our inventory over the last week has come up to 197 Active properties in Gillette, with 83 currently Under Contract. Last week 14 properties went under contract, so some properties are still moving. Average Days on Market is holding steady at 105 and List Price to Sales Price is steady at 98.76%.
With our limited inventory (a lot less than in 2016 with the mass layoffs at the coal mines), I believe will help us in the future. The Real Estate Market statistics will lag behind the current events, so we monitor the amount of showings we are seeing as well as the amount of properties going under contract. As of now we continue to evaluate the Real Estate Market, Local Economy and the Covid-19 Virus and the effect it has on all of us. We hope everyone is staying safe and listening to the recommendations so we can get back to enjoying or Spring and Summer days with our friends and family!
Have a blessed week!
Signature Real Estate Group