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During the second quarter, we still didn't have much inventory. You could have listed a shack and gotten multiple offers, but there weren't enough homes available for the sellers to move into. Since inventory was low, prices went up, and during the third quarter, more people listed their homes. As a result, we had a more balanced market last quarter.
As for the fourth quarter, it's going to be fantastic. We still have a decent amount of inventory, but if you're looking to sell, there's no better time than right now. A lot of sellers take their homes off the market and re-list in the spring, which means less competition for you.
Interest rates are hovering around 4% right now. My clients have been able to negotiate rates of 3.5% due to my affiliation with local lenders. If you want to buy, do it now, because rates will go up next year. As a seller, these low interest rates will help you get the price you deserve. When rates go up, sales prices go down.
If you've been thinking of buying or selling a home, now is the time to do so. Give me a call before we get snowed in again, and I'd be happy to help you out. I look forward to hearing from you!
