Market Update

As the normally slowest market time rapidly approaches, it is timely to get a realistic picture of what is happening locally. We have more listings than usual coming on for this time of year, but when people are relocated or when there is an estate to settle, timing isn't always ideal. Of course there are distressed sales, as we are all aware. But it interesting to note that, when a nice home comes along that is well priced at market value, it goes pending in only a few days. This assumes that the property is well located and in good condition. The buyers are out there but often not finding what they want to buy, or, in some cases, sellers are still unrealistic about pricing.

Since the Northwest was about the last market to sieze up, I predict it will be the first to come back. When that will happen no one can know. But I believe we'll see a rebound before next summer, based on pent-up demand.