For Buyers:
Another 29% of purchases made in August were between $200K and $300K. Good news for buyers, supply of homes for sale in this range has risen 5.4% over the past 6 weeks. The market is still hot, but not a frenzy like the lower-end. As a result, prices are not rising rapidly.
Only 25% of August purchases were over $300K. The market in this area is more balanced in supply and demand, creating a more stable price trend and equal negotiating power for both buyers and sellers.
For Sellers:
Supply is typically at its lowest during the month of August before it begins to rise in September and accumulate until February. Unless your listing is under $200K, expect to have a more competition for fewer buyers during the 4th quarter. The two most popular months for new listings to come on the market are January and October, so September is a good time to get competitive with your listing before buyers have more selection.
STOP!
Be sure to call if you have any questions about this report or about how the market is performing.
Would you like to know what is happening in your neighborhood?
Would you like to know the value of your home?
Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?
We would be very happy to get you that information.
Be sure to call if you have any questions about this report or about how the market is performing.
Would you like to know what is happening in your neighborhood?
Would you like to know the value of your home?
Do you need help deciding whether to sell or not or would you like to know if now is the right time to buy?
We would be very happy to get you that information.