This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
While the number of New Listing in our PhinneyWood neighborhood had dropped significantly from last month, this drop is consistent with the seasonal cycle this time of year. However, market activity – the number of listings that went pending (received an offer but not yet closed) and the number of home sales that closed – remained about the same.
The strength of the market activity indicates that buyers are still very active. While homes that are incorrectly marketed and/or incorrectly priced (usually both…), good homes that are priced right are still selling fast. Not surprisingly, home prices also held mostly steady from last month, and the month before.
To see the latest date and the full analysis online go to PhinneyWoodHomes.com.
Historically, August is a slow month in the real estate market, as both buyers and sellers tend to be preoccupied with the last of the summer’s rays. We usually see a second surge in activity in the fall. However, with mortgage interest rates slowly dropping, we might see this spur in market activity come early. Time will tell.
If you’re planning to buy or sell this year, understanding the market seasonal cycles can help you plan and strategize for optimal results. For a game plan customized to your specific needs, call Doron Weisbarth for a no-obligation consultation at 206-779-9808.
