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Taking a closer look at real estate activity throughout last month, here are some top trends in comparison to last year: Increased demand for housing: the number of new listings and closings has increased by about 10% Increased housing inventory: Homes available for sale on the market have increased by 15% – a higher amount than the increase in listings and closings. Lower market saturation: The List Price to Sales Price ratio has decreased, and the number of days that a property sits on the market has increased from 2 to almost 3 weeks, increasing Seller competition. Takeaway: |
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Buyers – An increased supply of homes and lowering of interest rates make property purchases more attractive and affordable. It will be important to capitalize on this shifting market in negotiations as you bring forward your purchase offer. Sellers – We may be starting to see a shift away from a Seller’s market. In this changing market, it will be important to determine key elements such as sales price and marketing strategy with precision, to carry out a successful negotiation and closing on your property. I’m here to support you every step of the way. |
