Here’s what you need to know about our shifting real estate market.
What’s happening in our real estate market? Our goal is to be your real estate team of choice, and part of that is keeping you informed on what’s going on in our area. We sell a lot of real estate, so we can get a feel for what’s happening even before laggy data comes out. Today we want to update you on our shifting market and explain what it means for buyers and sellers.
You can watch our full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:40 — Inventory has almost quadrupled, and it’s affecting our market
1:58 — Extra inventory is driving price reductions
2:36 — You can’t price your home based on early 2022
3:06 — Homes are staying on the market longer
3:43 — Why things are changing and what it means for you
4:22 — Our market looks like it did in 2019 before the pandemic
5:17 — The velocity of our market is changing
5:55 — Wrapping things up
If you have questions about today’s topic or anything else, please call or email us. We are always willing to help!