Market Shifts Gears!

10/19/2024

Hello Friends!

A couple months ago I alerted us to a noticeable slowdown in our real estate market. Today, I can tell you that the market has done a near 180° from where it has been over the last few years. It has gotten very quiet! (See below: Residential Trends). Multiple offers still exist for some well-priced homes, but more commonly I see price reductions and decent properties sitting on the market. This feels like an overnight change. I can’t help but wonder if everyone is waiting to make buying decisions until after the election?

Sellers: Do not fear! Properties at all price points are still selling. Remember that you will fare best to hire an experienced agent and set a reasonable list price. If prices are going to continue to soften, you might not want to wait much longer.

Buyers: If you have been on the fence, your time is now! We cannot count on interest rates coming down significantly in the foreseeable future. If you need a house and plan to hold it for at least three years, there is no time like the present.

Reach out anytime to discuss your goals!

Sincerely,

Susan 541-520-2246