A Glimpse at Our Local Market
This time last year, on average, homes were selling within 30-45 days and this past Spring, days on the market extended to 90-100 days before a contract was received. The longer days on the market have continued through the Fall and Winter. We do see us having a late Spring season as Mardi Gras is at the end of February.
While we are in this transition, buyers are not rushing to purchase because the market is saturated and rates will remain low for at least a few months.
This is a helpful article to understand the buyers in the current marketplace.
According to the study on real estate trends, most Baby Boomers haven’t found what they are looking for yet in a home. Generation X is looking for kid-friendly homes and neighborhoods at a fair price point. And Millennials are having a hard time acquiring the down payment and don’t want a larger home.
We are constantly reading, watching and adjusting to the market and refer to these websites for insight.
The Witry Collective has also established successful strategies to help assist our clients during this market adjustment and we are always available to answer any of your real estate related questions.
The Witry Collective
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