Things are looking great in the Tracy, California real estate market.
Though the Fed told us that interest rates would be rising, they actually decreased in the last month of February! On top of this, we’re seeing increased buyer confidence.
There’s more inventory in our market now compared to this time last year, so buyers aren’t having to make offers that are tens of thousands of dollars above asking price. Simply put, the market is much more balanced than it was in the recent past.
The decrease in interest rates is fantastic for buyers and sellers alike—buyers can get a great rate on their mortgage and sellers don’t have to make price reductions to entice offers.
Though there’s still some residual price reduction being carried over from our year-end market, there are now more buyers and more homes to choose from. Keep in mind that these buyers are looking for homes that are move-in ready, so make sure your home is adequately prepared. It’s also a great idea to add any inspections and disclosures to your online listing—you’ll build buyer confidence and agents will have an easier time making offers.
If you are looking to buy or sell, have any questions, or need more information, feel free to reach out to us. We look forward to hearing from you soon.