This is a periodic contribution to the Blog by local realtor Doron Weisbarth.
Our PhinneyWood neighborhood sellers took a break this summer to enjoy the wonderful weather, as demonstrated by the sharp drop in the number of new listings last month. Despite the 13.9% drop in new listings, the exact
number of SFHs and condos sold this year as did last year, a clear indication of the continued buyer frenzy.
Historically August is a slow month in real estate, as many buyers, like the sellers, are out on vacation. This year is probably no exception. That said, I expect the Fall to show strong market activity. While the number of new listings is usually lower in the Fall as compared to the Spring and even early Summer, the pool of buyers tends to be a bit smaller too, mostly due to attrition from those buyers who dropped out of the market after failing to secure a purchase. So the good news for buyers is that the competition will not be as fierce as it is in the Spring. The good news for sellers is that those buyers who are still in race tend to be financially strong and very, very motivated. The continued low interest rates help keep those buyers extra motivated, making the Fall a great one for both buyer AND for seller.
Overall, expect to see continued market appreciation, even if not quite as the dramatic as earlier in the year.
Yes, it takes skill, experience and knowhow to navigate this crazy market. Have questions about buying or selling a home? Call Doron for a free, no-obligation consultation directly at 206-779-9808
