With the holidays approaching, we experienced the typical slowdown in activity last month. Shifts that show our market is more balanced (stats provided by PPAR): Inventory: True to the season, some sellers pulled their homes off the market for the holidays. Only 33 more single-family homes were on the market compared to this time last year. Sales Price: Our sales pricing remains strong. The average is only $15,000 higher than this time last year. Buyers, you CAN be under contract with a new home before 2024. The lower interest rate and motivated sellers on the market means you can negotiate a better deal and negotiate to move after the new year. Looking at the trends we experienced in January 2023, we expect 2024 to be similar: a bit more activity after the holidays (depending on how interest rates behave). So, let’s start discussing your goals for next year to ensure you don’t miss an opportunity to move forward when the time is right.
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