Monday Morning Coffee - Dec 5, 2022
WILMINGTON, NC - Quick video overview from Buddy Blake of Waypost Realty in Wilmington NC. Buddy and his team serves all the real estate, homes and property needs of buyers and sellers in the great Wilmington and surrounding areas: Leland, Hampstead, Carolina Beach, Castle Hayne and more.
Are We In A Buyers Market?
Hi, this is Buddy Blake for another edition of Monday morning coffee first off, I want to wish you and your family a wonderful Christmas season ahead wish you a Merry Christmas, and a happy New Year also, I want to address kind of the market conditions we get calls and emails and texts and chats and social media messages every day asking us what's the market like well the biggest question is, is it a buyer's market or is it a seller's market?
It just depends down below is an article that I wrote that kind of highlights what's going on in the market right now, and also, you're going to find that I've started a series of real estate stories I've always found that success leaves Clues and so if we can just speak into another buyer another seller another agent or something like that and just give some experiences I think that it helps.
It is more of a buyer's market in certain price ranges once you get over the five and six hundred range, we see more negotiations, we're seeing some price reductions we're seeing Home Inspection negotiations and things like that, but still, we're struggling to have enough, inventory for things under the 400 Mark the only thing that's coming out in a lot of cases is some of the new construction, and a lot of it's just not even ready yet the interest rates they spiked up to almost eight percent there for a week or two now, they're settling back down in the fives and sixes, which is not as good as it was a year ago, but it's still a very good rate historically if you're thinking about buying or selling in this market feel free to reach out happy to be a resource in any way but down below you'll find some articles, and also there's a link to the latest Market statistics for our area so you can see the trend lines yourself.
Happy to talk more about it otherwise, have a Merry Christmas and a Happy New Year.