An update on the housing market and how it’s normalizing to 2019 levels.
We think it’s pretty safe to say that our area has returned to a typical real estate market, and the transition was fast. This all has to do with interest rates, which is what most people are concerned about right now. They have certainly affected the market, but in the long run, our area is still more affected by the shortage of inventory.
The market is starting to resemble 2019’s pre-pandemic market, which is great news. Things are normalizing. Homes are taking longer to sell and offers with contingencies are increasing. It is becoming more and more important to price your home competitively and prepare it well.
Another thing that we’re seeing more of now is the seasonal ebb and flow. The market slowed down a bit around late August and early September, which is typical. Again, these things were more normal before the pandemic, and now they’re coming back.
“The market is normalizing.”
If you’re thinking about selling your home in the spring, our advice is to start preparing your home and use the winter to work on little projects. This could include replacing your carpet, painting, fixing wallpaper, and more. These are great to start doing now to prepare for February and March so you can hit the ground running.
If you have any questions about these topics, don’t hesitate to reach out! Our goal is to keep you as updated and informed about the market as possible. You can call or email us anytime.