One of the most frequent questions we are asked is “What is the state of the Real Estate Market?”. The answer is simple yet complex.
First the simple…The market is in balance and on a general up trend.
Now, the complex or detailed answer.
You may have noticed that home prices and activity increased dramatically January through June of 2013 until the interest rate bump, government shutdown and holidays slowed the frenzied pace. Then at the start of 2014 we had a nice run up through April then slowed to a slight up trend again through the end of the year. The good news is that we are (and have been for months) enjoying a slight UP market where buyers and sellers are able to make their moves with relative ease. That is of course if they can agree on price. Today’s buyer is typically looking for a turn-key home, move in ready and priced right. Many sellers understand this and are doing minor to major upgrades to have the home market ready. This is very different than a few years ago where condition didn’t matter as much, and it seemed like there were 20 buyers for every home. This is the best type of market for everyone to be able to achieve their goals.
Winter inventory of homes is tight, but we know that will change as those homes that went off the market for the holidays will come back on and new listings will appear in the next few months.
It may be cold outside but look for the market to heat up!
Stay warm and enjoy the promise of the new year.