Q. Is the Real Estate Market Really Quiet Now?
A. It was a relatively quiet November and December. January 2023, however, started with a bang. We’ve seen very large numbers of serious buyers at our recent open houses.
One reason that buyers are out there is that pricing has eased a bit from the unsustainable highs of the past two years. Another positive note is simply that the playing field is more level. Many people were outbid in the past two years by a seemingly endless supply of people with cash offers and at many different price points, however, we are seeing a return to a more balanced pool of buyers.
Sellers have every reason to be optimistic, though. Are we still getting offers over the asking price? Yes. Inventory is still on the low side, so as long as the initial pricing of a property is chosen with the precision that today’s market requires, the buyers are definitely there.
So while we did experience a lull, things are picking up steam and we are looking forward to a busy spring!
