MARKET MINUTE IN LODI

Hi everyone and welcome to this week's episode of Market minute. I'll be your host Karima Weise, and today we're doing a 90-day forecast for the low dive market. Back in July, there were 74 new listings hitting the market, and Lodi is fast-forwarded to today. There are 64 listings in the market and in Lodi that is a 10-home decrease. Now let's talk about days on the market, back in July. Homes were selling and it was 60 days fast forward to today. homes are selling at an average of 32 days. That is a 16-day increase. Now let's talk average sold price, back in July. The average sale price of Lodi was 589k. Fast forward to today, the average sale price is 638k. That is a 49k increase. So what does this mean for you buyers, even though homes are taking a little longer to sell, you still have to come in with good terms to get your offer accepted by sellers. If you're a patient and you price your home properly, you still will end up with a good chunk of change for your next endeavor. Thanks for tuning in and have a nice day.

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