School's in Session - How Is the Real Estate Market Doing?
Today we'll discuss what's happening with the real estate market now that school is back in session.
We're actually seeing an interesting dynamic this year in that the school market didn't really have the impact that it traditionally does. Meaning there were not as many closings in August as there have been in the last three years.
With that said,the first quarter of 2015 saw a definite seller's market. We had a weak inventory, and multiple offer situations arose frequently. That calmed down a little as we entered April and May.We saw more of a balanced market, withequal opportunities for buyers and sellers.
This summer,sellers were very motivated and selling their homes in order to get to a new school district.So this summer, we were in more of a buyer's market, as sellers sometimes sold at a discount in order to get into those new schools.
Now,the market is picking up a bit.Some homes came off of the market, and there's less inventory. For sellers, there's less competition, and buyers are dealing with motivated sellers.September closings so far are very strong, and October is also trending to be an extremely strong month.
As we get into the fourth quarter, we are projecting that the market will turn into more of a buyer's market.At the Gellman team, we've had significant success with the winter market, and our listings all sell before the spring season.
If you're planning on selling, hire the right agent, price the home correctly, and market it correctly.Then you will be successful.
If you have any questions, do not hesitate to reach out to us. Give us a call or send us an email. We look forward to hearing from you!
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