Our market continues to moderate, with homes selling less quickly than this time last year.
We’ve seen a significant increase in available listings, however since June the new listings have decreased. This is due to the fed continuing to increase rates to fight inflation.
The average days on the market has increased from 14 days in June to 24 days in September. Homes are still selling more quickly than before the pandemic and price growth remains strong. This is showing that if a home is priced correctly it should go under contract within a few weeks.
Bottom Line – Once inflation is under control interest rates should start to decline and we will see a large influx of available homes enter the market.
If you’re considering selling your home you can take advantage of your homes appreciation. If your considering purchasing you have more homes available to view and not be as concerned about multiple offers and offering above the list price.
If you’re considering buying or selling a home, please give us a call, we’re here to help. 423-821-5551
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