The market is continuing to shift for the month of August and we wrap up the summer. while buyers are still in better positions to purchase their homes when it comes to negotiating with sellers, recent interest rate changes will put a wrinkle in those plans for the coming months. But as the saying goes, you “date the rate, but marry the house”.
As expected when the colder weather comes, inventory continues to drop, while sales are picking up. Inventory depletion having an effect on the list-to-sale ratios, keeping that number relatively steady under 100%.
Average sale price drops another 4% in August, will we see it again in September, only time will tell. We may see this drop slow down as the inventory options get tighter. however financial forecasts available suggests residential prices will continue drop in the near future as well.
Do you agree or do you think we’re headed in another direction? LET US KNOW!
RE/MAX, LLC Real Estate Estate agents Emily Desantis, Scott Sweitzer, Chris Somerfield & Ashton Hendriks. © 2021 Portfolio Realty Group. All Rights Reserved.
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