Real Estate Market Trends

 

Real Estate Market

Just ask a BUYER-our real estate market is crazy busy.

AND-the competition is TOUGH.  There are bidding wars  –  even in the higher end markets.  If a house is in good condition, priced competitively EXPECT to pay full price.

What is “GOOD CONDITION?”

  1. The major systems are newer: Roof, HVAC, Windows, Water Heater
  2. Cosmetically it is appealing: updated kitchen, bathrooms, etc
  3. Neutral paint and flooring
People are using this time to buy their first home EVER, move into a  bigger home, or downsize.  It makes sense to buy and sell in this market.  Interests rates ALONE are still INCREDIBLE.

Sellers are still paying closing costs-only if they have to though.  If they have two offers, they may pay a portion of it or none at all. But, typically sellers pay about 3%.

So, what are the real estate market trends?  Locally median sale prices are up 1.72% over last year. Inventory is hovering right around 7 months, which is fantastic.  We are almost back to normal!  Yipppeee!!

Prices in most of the United States are up too.  There are only a couple of states in the red.

Real Estate Market

Questions?  Reach out anytime at suzinoyes@williamewood.com