Thursday, October 27, 2022 / by Rachel Green
While we're definitely enjoying the cooldown of fall (and what is up with the snow flurries in the valley?), the market is experiencing it's own cooldown (although much needed for many buyers). But the headlines and the worries of the global economic collapse are not painting the same picture as reality.
Check out the statistics below, comparing September 2021 to September 2022. While the average days on market has gone from six to 31 just this year, 31 days is considered to be a healthy average days on market. Also, take a look at the increase year over year in median price. Lastly, notice there is less inventory this year than last year, which is a good sign for sellers wanting to sell this fall or winter.
For buyers, this is the season to make your move! Instead of competing against a zillion offers and other buyers, buyers have regained a little negotiating room. We're helping buyers win on the right home with a decent interest rate, thanks to a couple of loan programs through First Colony Mortgage, where the seller pays a 2-1 buydown. If this is something you're curious about, give us a call.
What are your real estate plans this fall?