Friday, September 4, 2020

Fickle Market Likes Sub 400k

 This real estate market is gobbling up everything it sees under $400,000. Homes that seem to have high-ish prices are snapped up in a matter of days. I wrote "-ish" because this market still tends to ignore truly overpriced homes, but under $400,000 seems to be like under $300,000 was just two years ago.

These low interest rates are bringing new buyers to the market and that is no doubt applying maximum pressure at the entry point to home ownership.Sellers seem to be sitting tight as inventory in this high demand sector of the market remains tight. Any seller sitting on a sub $400k property ought to consider listing and making a move up as the middle of the market is not as hot as the bottom. We continue to see bottom pressure creating an opportunity to sell high and buy low-ish. Again with the "ish" that low is relatively speaking, this market will ignore an overpriced listing but it will swallow whole a "value" priced listing.

If you are sitting on a 3 bed 2 bath home in that coveted $300-$400k price range call me or call your go-to Realtor® today, you may be shocked to see what the market might pay for you little house :)


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