Here’s all the latest information about our local real estate market.
What’s happening in our current real estate market? Well, sellers have the upper hand right now because low inventory and motivated buyers have made a strong seller’s market. Buyers are contending with multiple offers for the best homes.
We continue to have low interest rates since the Federal Government uses rates to spur the housing market and therefore the economy. The great news for buyers is that even jumbo loans are below 3%, which is extremely low. We hope to see an influx of houses coming to the market soon because as stated above, inventory is very low.
Single-family homes have been selling well. Toward the end of last year, we saw condos and townhomes sitting on the market, but now they’re selling too. Properties are flying off the market, and it’s a wonderful time to be a seller.
However, one of the most crucial tips we have for sellers is that you need your home to be move-in ready. That means doing simple things such as freshening up the landscaping, painting, and decluttering. It’s the move-in ready houses that are reaping multiple offers and the highest prices in the market these days. It’s an excellent feeling to walk into your new home and have everything done so you can just enjoy it.
If you have any questions about the market or real estate in general, reach out to us via phone or email. We would love to help you.