Hi,
You’ve heard me say this before and here goes again. The most popular question I get is, “How’s the market?” The answer most Realtors give is, “ITS GOOD” followed by some of there success, but let me dig a tad bit deeper.
Inventory is still low, but I’m seeing a notable increase in available homes on the market. This means sellers will face more competition, making it important to price and market their home strategically to attract buyers.
Despite the increased number of available homes, sales have slightly decreased. This might suggest that buyers are becoming more selective, possibly waiting for the right moment or more favorable conditions to make a purchase.
Interestingly, home prices are still inching upward. This trend indicates that demand is high enough to support price increases, which is advantageous for sellers looking to maximize their returns.
Most importantly, interest rates began to come down this week. We haven’t yet seen the full impact of this change, but lower rates typically increase affordability and purchasing power for buyers. This could lead to renewed interest and activity in the market as buyers take advantage.
With this being an election year and the stock market correcting after all-time highs I see a unique opportunity for both buyers and sellers. Buyers can explore the expanded inventory and benefit from lower rates. Sellers should focus on highlighting their properties’ unique features and ensure competitive pricing to stand out.
Check out the stats below as of today:
Current Market Trends
- Increasing Inventory: The 9% increase in inventory from JULY to June provides more choices for buyers but also highlights the need for sellers to be strategic in their listings.
- Stable Home Values: Home values have seen a modest increase, reflecting ongoing demand even with the low inventory levels.
- Buyer Opportunities: With the increase in inventory, buyers have a better chance of finding their dream home. It’s an excellent time to explore the market, whether you’re looking for a family home, an investment property, or a new space to call your own.
- Seller Strategies: Sellers need to highlight unique features, ensure excellent staging, and set competitive prices to attract buyers in a market that, while growing, still favors those who are well-prepared.
|
|
||||||||||||||||||||||
 |
||||||||||||||||||||||
|
WHAT IS MY HOME WORTH?
Selling your home?
We’re here to help you price it right – get a comparative market analysis today.
