Market Update with Steve
Monday, Nov 28, 2022
Nov 28 2022
Hello Happy Monday Morning
Current inventory for the first time since Mid April is in the 12000 (12714) unit range with 661 units selling.
There’s a misconception with selling a home during Christmas, most sellers feel that there home shouldn’t be shown during the season due to the Christmas lights and tree etc and that no buyers will be viewing homes during this time.
If you really do the numbers of sales and the avg. sale price Dec is one the best months of the year.
#1 Your home will decorated making the home look inviting and easy for a family to imagine them living there (Psychologically this time creates a warm feeling triggering emotion with buyers causing them to pay the most for a home).
#2 Your home will be facing less inventory as most sellers wait until spring to sell giving the buyers less options to choose from causing buyers to pay more for your home.
#3 Depending the buyer they might have to dispose of capital earned through gains prior to the new year.
Have a look at the reality of current mortgage costs compared to earlier this year. Interest Paid Vs Principal pay down.