2023 Market Update​

Fall is just around the corner. New listings are up but our buyers continue to outnumber homes currently for sale. We are still experiencing multiple offers and increased showing activity. The impact of higher interest rates cooling home buying is far less than expected. Instead, interest rates are controlling inventory because many sellers don’t want to forgo their current mortgages which are at 3.5% or lower. The overall effect is less supply than demand keeping us in a sellers market. One change we are starting to see is that buyers are considering buying homes in lower price ranges and doing renovations instead of financing a higher priced home, thus building equity from the start with their improvements. As always, my focus is on being a client advocate, educating and managing client expectations to today’s market. I am always available for a specific conversation regarding your needs.