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Today I have a quick market update for you. Over the last three months, home values have gone down by 3%. At the same time, however, home values are up by 3% year over year. What’s really going on here?
I think the most likely explanation is that over the last three months, we’ve had some anomalies take place. Maybe some high-rent properties sold for less than we anticipated, which brought values down. Overall, we’re pretty much flat.
In the lower-to-mid priced market, we are continuing to experience supply issues. We have buyers, but there simply aren’t enough homes for sale. If your home is in this price range, this might be a great time for you to consider selling.
In the upper end of the market, things are still a bit sluggish. If you’re selling in this price point, you’ve got to show inherent value to buyers. If they don’t walk in and see the value, they won’t buy it.
If you have any questions about the market in your specific price point or your specific area, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.
I think the most likely explanation is that over the last three months, we’ve had some anomalies take place. Maybe some high-rent properties sold for less than we anticipated, which brought values down. Overall, we’re pretty much flat.
There are supply issues in the lower-to-mid priced market.
In the lower-to-mid priced market, we are continuing to experience supply issues. We have buyers, but there simply aren’t enough homes for sale. If your home is in this price range, this might be a great time for you to consider selling.
In the upper end of the market, things are still a bit sluggish. If you’re selling in this price point, you’ve got to show inherent value to buyers. If they don’t walk in and see the value, they won’t buy it.
If you have any questions about the market in your specific price point or your specific area, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.
