Now that we’re into fall, what can we expect to see from our market in the coming months?
For one thing, we’re seeing more inventory right now, which is a great thing for buyers, but it means sellers have a little bit more work ahead of them. If you’re a seller, your house will probably sit on the market a little bit longer, but there are still ways to avoid this and sell for top dollar.
One of these ways is to make sure your house is in top-notch condition and ready to show. If you do this, you will still be able to generate multiple bids. Home staging is becoming more important, and this is what we specialize in—we take the time to walk you through your home help you understand what changes may need to be made so that it’s more marketable and sells quickly.
To sum things up, the phrase we’d like to use is “The market has crested.” We’ve reached the peak and now we’re slowly declining. This isn’t the same situation we had from 2008 to 2010; we’re just transitioning from a hyper seller’s market to a normal seller’s market. A lot of people aren’t used to this, so we just have to get comfortable with the fact that buyers have more buying power.
If you’re a buyer, this is the opportunity you’ve been waiting for. Not only do we have more inventory available, but interest rates are still low. However, keep in mind that the sky’s not falling. You won’t be able to bid $30,000 below a home’s asking price, but this is an opportunity for you to get a fair market value. We’re also seeing a lot of concessions happening in transactions—sellers are giving up a little bit more to close deals and get buyers into their homes. As interest rates start rising, this is something to keep in mind.
All in all, it’s a good opportunity for both buyers and sellers. If you have any more questions about our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to us. We’d be happy to help you.