Market Update for September 11, 2023

Market Update from Buddy Blake

​The below chart just released by the Area Association of Realtors shows that sales are substantially down year over year.  But keep in mind that much of this is due to very limited options for home buyers and interest rates soaring into the 8% range.  

​The good news is that while it is taking longer to sell homes with the restricted number of buyers that are able or choosing to pull the trigger, we are seeing an increase in the number of online views for the listings that are on the market.  

Normally, we see in-home showings follow online showings over the next week to 14 days - especially when we are utilizing price marketing (improving the price incrementally to stay top of mind with home buyers and agents) 

Also, median home prices are still strong, and some price ranges are still increasing. 

Fortunately for our team, over the years, we have navigated market shifts numerous times, and we can utilize our curated database of 30,000 plus home buyers, whereas many agents do not know what to do.  Our database systems are constantly watching for behavioral cues that buyers are performing (e.g., looking at the same home or price range X amount of times over a period of time, putting their current home where they live on the market, etc.).   Please let me know if you would ever like to see a behind-the-scenes look at how everything works.