Today I am joined by Lorna Davis, an agent here at Colemere Realty Team, to do a summer market recap.
This summer, we saw interest rates creep up, and they are continuing to do so. If you are thinking about applying for a loan, you should keep this in mind.
As far as market segmentation goes, the market is seeing some slowdown in the $600,000 and above price range. Buyers and sellers are seeing listings in this price range stay on the market longer and it is causing the inventory to increase.
In the price points below $600,000, though, it is a much different story. In fact, homes priced between $200,000 and $400,000 are still selling quickly. We’re in a strong seller’s market with a low average days on market.
If you are a buyer looking at purchasing in any price range, get in contact with us right away. We can work on strategies to be successful in the lower, competitive price range as well as the upper price ranges.
If you have any questions or suggestions for topics for us, please feel free to reach out to us. We would be happy to speak with you.