Every quarter Steve offers a clear, local perspective on market trends to help buyers and sellers make confident, informed decisions.
A Market in Transition
As the Spring selling season comes to life, buyers and sellers continue to find themselves in unpredictable territory. While the housing market in the area has had an ever so slight decline over the last several months, February saw an increase in sales prices over last year. This is encouraging news for sellers, particularly when the area is saturated with properties for sale. But the instability of interest rates continues to make both buyers and sellers wonder what to expect week to week.
What This Transition Means for Buyers
Buyers are happy to have many options and don’t have to feel rushed. Many builders are even offering terrific incentives for buyers, including closing cost assistance, appliance packages, and fantastic interest rates–if you use their lender.
The New Reality for Sellers
A lot of sellers dream of the Covid days when pricing was through the roof and buyers were competing aggressively with their offers. We’re no longer in that era. New builds in the area continue to provide competition for existing home sales–with many builders offering extremely competitive incentives for buyers.
Pricing and Presentation Are Everything
Sellers of existing homes need to be savvy and partner with a local agent who understands the market and the new build competition in the area. Realistic, competitive pricing coupled with a well presented, neat and clean home free of clutter is very often the key to success when selling.
Why Local Expertise Matters More Than Ever
Your local real estate professional can help with comps of homes which have sold, giving sellers a good idea of how to compete properly. In today’s market success doesn’t come from timing alone, it comes from having the right strategy and the right expert by your side.
We look forward to sharing more of Steve’s insight in a future issue.
