Are the Tides turning? Is the Market Shifting?
Someone tell me what is happening!!
Here we are in March. The past two months have flown by and what have we learned about our local Real Estate Market?
We came into a new year filled with optimism. With a vaccine on the horizon, and the possibility of loosening public health guidelines it made it easier to be optimistic about the Housing Market. But what a two months it has been. With February even more unprecedented than January before it.
This is where we come in. Now more than ever, you don’t just need a Realtor, you need a Partner.
It is easy to get swept up in the hype of the Market and it becomes difficult to sift through all of the white noise. With news of homes selling for dozens to HUNDREDS of thousands over asking each and every week there is an ever increasing amount of discouraged buyers. Where do you fit in?
There are indications out there right now that the tides are turning. There is change in the air – and it is not just Spring.
2020 was a crazy year, for so many reasons. One of the unintended consequences of last year was a decision by those in the higher price point homes to hold off on listing. The normal Spring to Fall listing seasons of 2020 had very low (bordering on historic low) listing inventory – especially at the top of the market. The top of the market, or higher priced homes, is important to provide space for everyone else up into. Without these listings on the market there is no where for the mid and lower end markets to slide up the property ladder.
One thought is that the 2020 Sellers are going to shift to the up coming 2021 Spring Market. If the 2020 Sellers combine with 2021 Sellers, inventory will increase. More inventory will feed some of this ravenous demand. How much of the demand gets fed will of course be determined by how many listings come out.
To Our BUYERS:
The Real Estate Market can be volatile and can feel overwhelming at times. It is forever challenging to predict where we’ll be in 2 weeks let alone 4 – 6 months. As we approach Spring I expect to see more inventory coming onto the Market Sellers will hope to catch a piece of this hot market and get a great return on their investment. This could potentially open up a larger buying pool for our Buyers.
“Buying a home is like planting a tree. The best time to do it was in the past, the second best time is right now. ” – Steve Roblin, 2021
Many Buyers are already feeling like they may have missed their window to buy with the steadily increasing prices. But there is no guarantee that prices will fall. Or even plateau. When buying your principle residence do not lose sight of the fact that first and foremost you are buying a home. Let’s work together to find the right property for you at the right price.
Stay in the loop. We have the inside information. Let us guide you through this. We make it our business to know this business. We will go at your own pace and comfort level as we navigate this crazy market during these crazy times – together
To Our SELLERS:
When is the best time to sell?
For our Sellers the time is now. We are already starting to see a small increase in inventory as we move into the Spring Market. As the weather gets warmer and grass grows greener the appeal of listing becomes stronger. With the vast increase already realized in sale prices, the thought of selling has become more and more attractive as the visions of dollar signs loom before some sellers’ eyes.
Be prepared. This market is dynamic. Let us educate you on pricing and strategy. Proper marketing and exposure will increase your selling power.
EVERY home is different. Each has its own story to tell and each deserves its own unique and customized marketing plan.
Always happy to chat real estate – anytime.