More Options For Buyers….
By now you have seen the headlines “The Seller’s Market is Over”. It is true that we closed 9 fewer homes in Washington Park this July than we did last July. However, we still closed more than we did in July of 2019 or 2020. If I recall, that was still considered a Seller’s Market however, just not as robust as the unprecedented Seller’s Market in the Spring of this year. In fact, having 40 homes to choose from instead of the 22 we had last year, actually may give some buyers a good reason to get back in the market. That combined with a drop in interest rates back down to the 5% range from the 6% we saw in June also may be helpful.
The good news is that even in the worst of markets, there is always a steady demand for Washington Park homes. It just might take a few more days to sell one and buyers may not lose their minds and pay $200,000 over asking to get one. If you are wondering how your house might fare in today’s market or whether you can compete as a buyer, please don’t hesitate to be in touch.