Spring Market Update!

There is good news in our current real estate market for sellers who are realistic and a bit patient. Local inventory for single-family homes is very low right now, which is helping to maintain values. If you are realistic about pricing, your home has a high likelihood of selling for approximately 94% of the list price. However, days on the market (DOM) have increased to an average of 83 days. DOM refers to the number of days your home is on the market before receiving an acceptable offer.

J.P. Morgan Research expects home prices to rise by 3% overall in 2025. The higher-for-longer interest rate backdrop is here to stay, with mortgage rates expected to ease only slightly to 6.7% by year-end.

The bottom line? Now is a good time to sell—or at the very least, get your home ready for sale—knowing that the sales process takes longer than it used to. You will want to be realistic about your price and ensure that your home truly sparkles!