What’s Happening in the Market
Eastside (based on Residential Homes):
- Market times fall (Down 12-13% Year over year)
- Demand is still at a somewhat frenzied pace.
The summer swoon may be upon us as June numbers show that listings outpaced the pending’s for the first time in quite a while, but don’t count on it lasting long. The predictors don’t favor this trend as home prices are still on the rise to the tune of 16% Year over Year and homes that are turn key are generating a great deal of excitement/ Multiple offers. It has also become crystal clear over the last 12 Months that overpricing a home in this market is the kiss of death for a Seller getting the most for their home & the best qualified Buyers. It is clear that offer prices and terms are solely being made by Buyers based on the Days on Market and the interest that others have in the property.