Market Recap: Elevated interest rates in the first half of 2023 have caused many sellers to stay on the sidelines due to the significant difference between their current mortgage rate and the available market rate for a newly purchased home. New listings were down 23% YoY, year to date June.
Market Outlook: Many buyers have been able to navigate the higher rate environment by negotiating concessions from the seller to help on closing costs or paying down the interest rate. Life events that require moving don’t always wait for a change in interest rates. There are options available for buyers who want or need to move. Give us a call. We’ll guide you through this ever changing housing market.
Market Overview
Active Inventory 4,400
Sold Homes 2,956
Ave Sold Price $802,973
Ave Days on Market 23
Condos & Townhomes (June-23)
Active Inventory 1,670
Sold Homes 1,153
Ave Sold Price $484,734
Ave Days on Market 23
Real Estate Humor
Which room in your house are zombies most afraid of? The living room.
