HOW is the market really?

The current real estate market isn’t necessarily a fun one, but there seems to be some relief for Buyers these days. Interest rates are still on the high end (~ 7ish%) and inventory is low, but we aren’t seeing offers as crazy. 

Every property is different based on how it’s priced, marketed, location etc. but in general, offers aren’t generating $50k + over asking price with everything waived. They’re more like $10k-$30k over, or even at list price, with some layer of contingencies.

I booked a few inspections over the last couple weeks and inspector schedules were busy – a good sign for Buyers perhaps?

For the data lovers – in Rockingham County during the month of June:

• 286 single family homes sold

• Average days on market were 7

• Average list price was $790,911

• Average closed price was $807,959

And remember, nothing is ever impossible, and you never know until you try. People buy and sell homes EVERY DAY. Regardless of the market, the biggest question to ask yourself -- is NOW the right time for YOU? If the answer is “heck yes” then we can get it done.

For those of you thinking about selling, you do still have the upper hand BUT it is more important than ever to deploy a smart pricing and marketing strategy. Without it, properties are sitting on the market with price reductions.

Thinking about selling within the next 6 months? CLICK HERE to get my checklist of easy, budget-friendly things to do now to increase your property value later.

Oh, and all the NAR (National Association of Realtor) lawsuit media chatter…more to come on that in the next month as changes take effect in August. And shocker – it’s not as revolutionary as the media is making it out to be…