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October Phinneywood Housing Market Snapshot

This is a monthly contribution to the Blog by local realtor Doron Weisbarth

While we’ve had more homes come on the market this September compared to last year, our overall market activity had been the lowest in 13 months. Yes, even lower than in January and February of this year. You’ll notice that SFH (single family home) values for our PhinneyWood neighborhood in this month’s full report have actually increased even compared to last month, bucking the general market trend. So how can we have more inventory, longer time and market and yet prices that are increasing, you might ask?

It’s useful to view our market as two parallel markets. One market is that of sellers who are willing to listen to and follow the market trends, and then price their homes accordingly. These sellers appeal to the many, many buyers out there, and therefore sell their homes quickly and for a good amount of money.

The other group of sellers refuse to listen to the market and, not surprisingly, are having a hard time selling their homes. As time goes by, this second group will become smaller and the market will become more normal than we’ve seen in a long time, although still a seller’s market. What’s nice about this kind of market is that it is good for everyone. Buyer have good options and don’t have to deal with the craziness of it all. And sellers still get a good price for their homes. And for those who need to both buy and sell, the market will finally offer easier opportunities.

Considering selling your PhinneyWood home, or buying one in our neighborhood? Find out what insider tricks and strategies will help you maximize your results. For a no-obligation consultation, call Doron at 206-779-9808.