My View of the Market – March 2023

There is (finally) some good news for the real estate market. For the first time in a long while we are in a balanced market. Even though inventory is still very low, there were more sales in January and February than new listings. January began a shift in buyer sentiment and still continues here at the end of the first quarter. Pricing has bottomed out and listings that are move-in ready are selling quickly. We’re back to commonly seeing multiple-offer situations. The difference from the heyday is that only a few are going over asking. Buyers are offering less money but including escalation clauses up to the asking price. With low inventory, buyers are struggling to find a house that meets their criteria. I have a handful of buyers that are sitting and waiting for the perfect property to come on the market. If you’re thinking of selling, now is the time to get your home on the market – and I can help!