September; the great pre-qual of the "Fall Market" and sales going into year end. The unit sales data in our towns continues to outpace last year, along with continued price improvement. We are conservatively calling this a very stable market with expectations of further gains going forward.
Inventories continue to be tight at this stage. Rates do not tend to be a factor in the purchase, as much as the buyers would have preferred that 30 year fixed at 3.75%. With an optimistic market place intact, sellers have to realize the buyer pool is fragile and is still in a recovery mode.
Buyers are concerned about over paying. Good houses, that are aggressively priced, sit in inventory until pricing has been repositioned. Buyers realize they are in a price improving market place and are sensitive to future outcomes.
This Sunday is the Coldwell Banker Open House Event, 33 homes ranging in price from $259,000 to $2,895,000 are on the tour. Going to open houses is a good way to get a better sense of the market.
As we begin our Fall market, we will be here to advise and inform you of our local market behavior. Don't hesitate to get in touch if you have any questions.
Enjoy the beginning of Fall!
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