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It's been a nutty year in our market
Nina Hollander, Broker
CT has not come back fully and may not as housing follows jobs and we lost some multinationals.
Nina Hollander, Broker
I see low levels of inventory and rising prices. Our unemployment is low, interest rates are low, and appreciation is steady.
Nina Hollander, Broker
We have a severe shortage of affordable homes.
Steve Snyder - I see I am getting busier as I see the prices reaches a steady level in some of the towns I work in.
Our fall market seems to be busier than ever. We do have some inventory in most price ranges, but it's scarce in the under 200K price range which is where most buyers in this area are looking to purchase. So the lack of inventory is holding back the sales numbers.
In our market, average sales price is up, days on market are down, and the inventory levels remain below 3 months. We are seeing normal fall slow downs, but still anticipate a good (really good) 2017 - assuming no additional state or federal regulations which put a damper on real estate.
Thoughts? Overheated markets like CA and Manhattan will cool down, way down. Miami Condos already have.
The other "thought" is the outcome of the Presidential Election. Everything hinges on that.
The activity this month is pretty much the same as the last 2 months. Earlier this year it was busier but we have a strong market even now.
I am seeing some Slowing from people worried about the election
I think what developing technology will do for home tours will be mind blowing.
I think in my Midwest area there is a stall out. We now have 5 mos of inventory where we had 1.5 mos before.
Was at an interesting webinar yesterday where they said the real estate nationally is now at 2006 levels. Not bad I guess, but it's taking too long for recovery depending on your area.
I believe here in Seattle we have the 2nd hottest real estate market and I just started seeing signs of slowing down.
Denver has experienced a crazy frenzied Seller's market now for 3 years, and sure would be nice if it leveled off a bit. It has slowed down a bit, and inventory has increased. I think many are waiting to see what happens with the election, and if the rates move.
Going from a sellers market to closer to a balanced one.
November to January always slows down in our area.
new construction sets the pace in our area.... land is selling well....builders are going through approvals for new subdivisions.... real estate is alive and well.... where there are new homes, resales will follow....
Every buyer I've worked with this year has spent about 10% more than they thought they needed or wanted to. So long as there is a shortage of inventory, home prices will continue increasing.
The differences can vary by neighborhood, price, south/north of certain streets and even individual condo complexes. There seems to be a reluctance on the part of some buyers and sellers to move forward. I have noticed some increases in inventory levels, price reductions(and often quite quickly) and longer days on market. That said, there are still many examples of properties coming on the market with 20+ offers received and a final sales price that does not seem to be based on any sense of reality.
I stand by the saying - real buyers buy and real sellers sell. Every day.
Inventory low and sellers trying to push prices. Buyer resistance growing. That said, some markets are still very hot!
I am seeing and hearing that people are scared. Home owners are staying out, new buyers are out and ready buy to get the ultra low interest rates. The election has people on edge. It is the lesser of 2 evils and 1 evil would have us continue to have our insurance rates double and what they cover cut again. A true unemployment rate that culd be double or triple what they report. Lack of security and a pile of lies. The other an ego but has to be better than the last 7 years. I think everyone was hoping for a 3rd party savior that never came.
It is leveling off.
It is quite busy as usual. I expect December 2016 to be seasonally slower as it always is.
Buyers doing more and more searches for homes they want to see. This trend just keeps growing.
The best that I or anyone I know could give you is a rough guess.
I see the normal slow down but nothing out of the norm.
I think a slow down could only occur from something outside of the US happening (and affecting us).
Slowing down definitely in S.F. Valley. Prices do not climb up any longer. DOM is longer( in general). Less clients with families.
Slow & steady is how the Erie PA market is described. Not much change from month to month and year to year
New construction priced right in demand. High end slowing down. Start-up is brisk trade-up market stagnant. I advise caution especially with elections
This is what I am seeing in Dunedin, FL
Affordable housing is a sellers market.
What is considered high end homes are in a buyers market.
Tech growth is BOOMING and will very likely sustain a healthy real estate market. The current 30% increases are NOT sustainable and will self correct as the Days On Market trajectory is reflecting.