This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
Spring home sales are in full swing in our PhinneyWood neighborhood! Market activity and prices are sharply up from last year, continuing the trend that started earlier this year. Buyers are actively engaged, and are bidding higher for good homes.
Notably, many new construction homes are now classified as condos under new city codes. This is throwing off some of the numbers that you’ll see in the reports. The new codes allow for the construction of multiple homes on the same single residential lot that previously would only allow a single home. The developers can then condominiumize their entire project, thus getting a tax id number assigned to each structure, and then sell each of these structures separately.
For more details about PhinneyWood’s real estate dynamics, you can find the full analysis, including a trove of charts, online at PhinneyWoodHomes.com
Interest rates have bumped up recently, but, unlike last year, that doesn’t seem to have dampened buyer’s enthusiasm so far. The next few months will give us a better clue for buyers’ and sellers’ level of commitment.
Is spring the right time to buy or sell your home? Let your plans burst through and flourish! Call Doron for a free, no-obligation consultation on how to get the most from your transaction. You can reach him at 206-779-9808.
