With the holidays approaching, we experienced the typical slowdown in activity last month. Shifts that show our market is more balanced (stats provided by DMAR): Inventory:
True to the season, some sellers pulled their homes off the market for the holidays. 6,700 homes is 7% more inventory than we had this time last year.
Days On The Market: No surprise – properties stayed on the market longer. But considering the average was 34 days in November 2022, our market is stabilizing.
Sales Price: Our sales pricing remains strong. It’s only 0.4% higher than this time last year. Buyers, you CAN be under contract with a new home before 2024.
The lower interest rate and motivated sellers on the market means you can negotiate a better deal and negotiate to move after the new year. Looking at the trends we experienced in January 2023, we expect 2024 to be similar: a bit more activity after the holidays (depending on how interest rates behave).
So, let’s start discussing your goals for next year to ensure you don’t miss an opportunity to move forward when the time is right. Text or call me at (303) 868-3097.