Is the Real Estate Market Changing? - Market Update

Hope you're enjoying the summer sun!  It's been a while since we sent out a good old-fashioned market update, so we wanted to give you some quick notes on the real estate market as we hit the peak of BBQ season and vacation vibes.

So, here’s the scoop: The market has slowed down a bit since the end of May. Fewer offers are rolling in, and the competition has cooled off. But don’t panic! This happens every summer as people get busy with vacations, outdoor fun, and everything else that makes summer awesome.  I personally have 3 buyer clients who are out of the state as we speak! 

Even though things are slower, home prices are holding steady. If you're smart enough to hire a good realtor and your home is prepped properly for sale and is marketed well, you can still score top dollar. But if you're just plopping your house on the market with little to no effort, it might hang out on Zillow and Redfin a bit longer and will definitely sell for less.

We’re seeing more active listings too. The number of new homes hitting the market each week is pretty normal right now, but inventory is up because some homes are just sitting there. Therefore inflating inventory. This is typical for summer – not a sign of a market crash. The job market, especially in big tech, is steady, the stock market is doing fine, and mortgage rates are stable or even slightly down. Not much has changed! I also believe with the election coming, the gov. is going to do everything it can to maintain strong financial and housing markets.

Soooooooo, what does it all mean?!?!?! 

For sellers, this means prepping and marketing your home properly is key. We’ve got all the tips and tricks to help you shine and make that money!

For buyers, now's a great time to jump in. With less competition, you might snag a house cheaper than you would think. And don’t shy away from homes that need a bit of work – that's where the real "deals" are happening right now! We can show you how to target and find these homes.

A couple of months ago, buyers were battling 10-20 offers on almost every house. Now, you’ve got a better shot at getting that dream home without the frenzy.

Got questions or need some advice? Hit us up! We're here to help you navigate the market.

I hope you're enjoying your summer, have a great weekend!