Your December Market Update
It’s a great time to sell your home. Real estate activity inevitably tails off as a direct result of owners withdrawing their homes from the market. Lower inventory results in lower sales. Take November for example. We saw a month-on-month drop in inventory, sales and pending sales. It’s a trend we see every fall.
Key positives today include more homes available for sale as well as a higher number of pending sales, compared with November 2022.
Mortgage rates continue to trend south and, while the drops aren’t huge, they are catching the attention of buyers, even as the festive season fast approaches.
Many sellers will decide to wait until the New Year before listing, but consider the benefits of doing so right now, when any serious buyer is highly motivated and competition for buyers is less than it will be in early 2024.
If you’re concerned about having viewers while you entertain relatives, remember that you can absolutely dictate when the property is available for viewing and when it is not.
Consider too that many busy and well-qualified professionals will be taking a vacation and will therefore have more time to view and consider their options. They will also be house hunting for relocation and seeking investment for tax purposes!
As ever, please contact Jim at 415-492-0100 for an informal discussion.