What’s ahead in the real estate market? Probably another tight year of limited inventory, so do not expect a significant decrease in prices this year. Real estate prices increased by over 2% in Jefferson County last year. Mortgage interest rates are forecasted to come down a tiny bit. As we get further into the spring and summer market, I think buyers will be competing again for the limited supply which means bidding wars.
Sellers, you will want to be as “pitch perfect” as possible and make sure you are not overly ambitious with your list price. You will be sitting on the market if you do overreach and will likely get less than your target price. Currently, we are seeing about 60 days on the market before an offer comes in. That should shorten up as the year goes along.
If you are thinking about selling, now is the time to talk. I am happy to discuss your goals to see if this is the right time to achieve them. I would be delighted to provide a market analysis for you and to give you advice on what you need to do to get your home ready to sell. If there is work that needs to be done, I have a list of contractors. Or perhaps you know someone who is thinking of selling and/or buying. It would be my pleasure to help them too!! Give me a call or send me an email.
Below is an article on tips for selling your home this season.