This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
A typical year brings a renewed market activity in the fall, a pattern that has repeated for well over a decade in our PhinneyWood neighborhood, and in our region in general. Looking at this month’s numbers might lead you to conclude that this flurry of activity happened again this year. And in some way, it did. As evidence, new listings and pending sales were sharply down, while closed sales were sharply up in October.
To see the latest date and the full analysis online go to PhinneyWoodHomes.com.
What is odd about this year is that a large portion of that market activity happened at the end of September and the very beginning of October. Anecdotal reports from our area and from other parts of the country indicate that the market screeched to a near standstill during most of October and into early November.
The prevailing explanation for the slowdown blames the large uncertainty leading up to the election. If this hypothesis holds any water, then we will see the market picking up speed again now that the elections are over.
Last year the fall sale season started late (spurred by the drop in mortgage interest rates) and continued well into December, later than in normal years. This year we might see a repeat of that extended sales period.
If your goal is to buy or sell before the end of the year, you still have time to get it done! Let’s put together a plan and a strategy. Call Doron for a no-obligation consultation at 206-779-9808.
