What are the latest buying and selling trends in our housing market in 2018?
To get an idea, let’s look back to 2017. According to Darrell Morgan of Berkshire Hathaway, our market did great overall last year. There was tremendous growth, with more and more ready and willing buyers looking at homes. Because there were so many buyers flooding the market and so little inventory, we saw a lot of multiple offer situations.
On the flip side, properties listed on the market sold faster and for higher prices due to this influx. Mortgage lenders were also able to close loans within 30 to 45 das on a regular basis. On our team, our listings were on the market for roughly half of the time that there were in previous years. In many cases, multiple offer situations resulted in higher sale prices for our sellers.
Where are clients finding Realtors in 2018? In Darrell’s experience, many clients base their picks on reputation. Word of mouth from past clients is huge in this business. The internet is also one of the main resources, which means online reviews are extremely important.
If you or anyone you know is thinking about buying or selling a home in our market, don’t hesitate to reach out to us for a free consultation. We’re here to help with all of your real estate needs.