This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
Despite mortgage interest rates that have reached new peaks, home prices and activity levels have pretty much stayed level, especially if you factor in seasonal effects. Further evidence for the market resilience in our PhinneyWood neighborhood can be found in the median price per square foot, both for single family homes and condos.
You can read the full report online at PhinneyWoodHomes.com.
If past years are any indication, we are now heading into the slowest time of the year for real estate activity (although last year, December was one of the busiest months for real estate). And then, after the new year, the market seems to reset and the annual cycle starts again, with strong home appreciations through spring.
If mortgage interest rates decline by even a small amount by the first quarter of 2024, we are likely to see a surge in demand, which will fuel an even stronger surge in prices.
Need some guidance on when is best to buy or sell a home? Call Doron Weisbarth for a free, no-obligation consultation, at 206-779-9808.
