Mark's Market Update - Preparing for the Annual Pie Giveaway and a Market Shift this Season!
Welcome to another edition of Mark's Market update. As you can see in the back ground, I just filmed a video for our 3rd annual Client Appreciation pie giveaway. November 19th and November 20th, Let The Gellman Team Do the Baking This Thanksgiving. You can register at www.TheGellmanTeamEvents.com and select Apple or Pumpkin Pie. Back to Mark's Market Update. September 2018 vs September 2017 was very interesting. As we have consistently discussed over the last few months, we have been watching interest rates and inventory levels. Just in the last month, interest rates have risen approximately .75%+. More importantly, when comparing September 2018 vs September 2017, we began to see a "Market Shift", with # of sold homes and Median Sales Prices down each 6%. In addition, we are seeing inventory levels rise. The sellers' market that buyers have been experiencing over the last year is starting to "shift" toward a more balanced market. Buyers, there are beginning to be some great buying opportunities. Sellers, there is still a significant demand for homes that are prepared properly for sale, priced right, and marketed to the highest level. St. Louis is starting to see trends that have been occurring on a national level, that we have been reading about it in National Publications. We are going to have to keep our eye on 4th quarter inventory levels, as traditionally sellers take their homes off the market for the holidays (which we absolutely do not recommend). As a result of softening sales, we may see higher inventory levels than normal in the 4th quarter and thus great buying opportunities. If you have any questions about buying, selling, investing, the value of your home, please do not hesitate to call, email or text.
Estimated home valuation: www.StLouisHomeValues.org
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