What is happening in and around our local market?
As it stands, our current market is still leaning toward sellers, but we’re seeing a slight leveling off in favor of buyers.
The average sale price for homes in our market is hovering in the mid-$200,000 range, but we’ve actually seen a 4.5% uptick in price year over year.
While inventory has yet to come down for homes priced above $250,000, the amount of inventory we have below that $250,000 price range is pretty scarce and multiple-offer situations are increasingly the norm.
Additionally, with interest rates being so low, good deals are just waiting to be made. The bottom line is if you’re looking to buy, be careful not to assume that we’re in an all-around seller’s market. Depending on your price point and what your goals are, the time to make a move might be now.
If you have any questions related to real estate or you’d like to suggest a future video topic, please reach out to me. I look forward to hearing from you!