Home prices rose 3% last month, which is the largest gain in a year. Generally, prices have leveled off and there is less competition for buyers. It is still a seller’s market due to the low inventory. Homes that are in great condition in popular neighborhoods still may get multiple offers and have the price bid up. Homes under $500K may also have competition and multiple offers.The condo market has slowed considerably, and condos are getting much more market time.
This time of year, there tends to be fewer listings and homes that have been on the market for a while go under contract, lowering the inventory further. But there are also fewer buyers looking this time of year so it can be a great time to buy.
Meanwhile, I have been busy bringing on two new listings and helping a client buy a new home. I helped a client close on their new home this week, which brings a lot of last-minute tasks, and I had the pleasure of delivering their keys last night.