This is a periodic contribution to the Blog by local realtor Doron Weisbarth
The big story in our PhinneyWood neighborhood, as well as in the greater region, is the declining number of homes that are available for sale. A dramatic decline in the number of new listings, combined with the continued appetite by the buyers, who seem to devour almost everything that is put out for them, has been driving our market for a while. While in previous years we would see inventory climb during the Fall sale, this year had bucked that trend. It seem that sellers have decided to hunker down in their existing homes for the foreseeable future.
But what is also an interesting story is the selective nature of many buyers. Homes that are updated, well maintained, and move-in ready are getting significantly more attention and stronger offers than those that will require the new owner to invest more money after the sale is closed. Many buyers are putting all of their available cash towards the purchase and are worried about having sufficient funds to do the upgrades and repairs. At times it almost seems like two markets that are running in
parallel.
Do you need some professional hand-holding to navigate a purchase or sale of a home? Call me for a free, no-obligation consultation. You can reach me directly at 206-779-9808.
