Subscribe to Answers
The sweet spot in our area is still $250k to $500k but the market for newer homes on acreage from $500k to $800k is smoking hot.
Things are slowing down in the Denver area.
Market has slowed, inventory low, seeing some additional overpriced listings with sellers trying to test a slowing market.
It's happening in our market as well although the price ranges may differ. In some segments we are seeing increased inventory, longer days on market and price reductions(and sometimes quite quickly). That said, there are still multiple offers, sales over(and sometimes waaaaay over) list price and other head-scratching moments for many properties.
Thomas J. Nelson, Realtor - part of it is seasonal and part of it is due to the fact that listings hit the market at slightly higher price than what it should have been...
Yes, same in our area - the luxury market didn't QUITE fully recover and has shown a significant slowing the last 60 days. Otherwise, fairly healthy (in the under $500K market).
I have seen my area shift several times over this past year
Yup - it is coming - it is time
There are a few other Agents talking about what is to come. We have never been a strong market over $400, only sell a handful of those in a year.
Our market is off season right now, but we are seeing a shift similar to what you are experiencing. Political interruption?
I see some of that, with the cut off being between 600 & 750k, depending on the city. In some areas, homes in the 1.1+ million range are flying off the shelves. I have one that I sold in one day, twice!
Phoenix is still going strong at this time.
Finally getting some movement in the higher priced homes and lots. Lower priced homes are still having trouble finding qualified buyers.
Yes the same in Orange County but a bit higher ranges. Under $700 is going, $700-$1m moving slower.. Luxury time on the market days on the market has increased.
Looking at numbers yesterday YTD listings is almost identical to last year here in the OC.
Yes to your explanation and relevant question. The drive is there and the ducks are still quacking Real Estate but for how long until they quack-up?
"Affordable" houses - $250K and under - are selling.
Interesting points. We don't have the action that your market has in the good ole' Midwest.
There are so many rehabers out there (people trying to buy direct from banks on the steps) they are falling all over each other. There is still money in it but getting far & few in between.
I was going to look at our different price ranges last week & got distracted. Will do it today.