Today is the day to talk about the current market and the preceding quarters. I want to share some insights so that we can navigate through the coming months and try to better prepare for buying and selling.
Prices dropped slightly as rising mortgage rates continue to impact affordability. Prices are not expected to depreciate, but the rapid appreciation of the last 2 years may be slowing. If you are thinking about selling to maximize your net profit, message me for a free local market analysis to see how much your property is worth today!
Inventory remains historically low, and great properties are still going fast. If you are qualified to buy, you may want to act while prices are stabilizing—and before mortgage rates go any higher!
Additionally there is some reports that interest rates may be sliding downward due to possible inflationary lessening. Good News!!
Message me to learn about the buying opportunities in our area.
Days on market has ticked up from the historical low of 14 days to 19 days and the number of competing offers has been falling since April, from 5.5 offers per listing to 2.5. Buyers, you’re facing less competition and have a bit more time to think! Message me if you’re ready to make a move!
Existing home sales continue to decline but we are still firmly in a seller’s market. If you have been thinking about selling and have questions about where the market is heading in our area, message me!
Additionally there is some reports that interest rates may be sliding downward due to possible inflationary lessening. Good News!!
Happy Thanksgiving Season 
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