So many factors impact the sales market activity. We’ve noticed things from gas prices to weather can affect the activity on a day to day basis and during each month. In September, Monroe County saw a decrease in new listings by 7% from the same month in 2016 but we closed 9% more transactions in Sept2017 than in Sept2016. The good news is that we are seeing an increase in the average sales price, nearly 8%. Inventory remains low and is the main cause of the slow down in sales activity. If you’re thinking of selling, there is less competition now than you’ll most likely see in the Spring! Buyer traffic is slow, which could be affected by the upcoming holidays. Although interest rates remain low, we are expecting to see interest rates rise over the next year. This may be another reason for acting sooner than later! Don’t let the holidays and winter weather delay your house-hunting and house-selling opportunities!
Simply put…. YES. Whether selling or leasing, traffic slows down as the holidays approach. However, there is always some activity and that activity is typically the serious buyer, motivated seller or a tenant who needs to find a new rental. The Purchase process usually takes 21-45 days from start to close so making an offer on a house today means moving probably between Thanksgiving and Christmas. When consulting with buyers, we always start with the end goal date and work our way backwards. This allows us to meet deadlines if a buyer has any. When consulting with sellers, we review market activity and attempt to predict the time line but there are so many factors that it is sometimes difficult to estimate. We manage enough rentals that we typically have at least one rental that may be vacant or coming vacant soon but we are generally 99-100% full year-round. If you are thinking of moving, our full service team can assist you!