The Real Estate market in June was much of the same that we have been seeing through out the years. The inventory has been climbing, and sales have been lower than long term averages which is creating buyers markets conditions. The interesting market to note is the Row Housing sector which saw an increase to the benchmark price of 2.82% over June of 2017 rising to $302,300.
When looking at the market, it is wise to look at what opportunities are with in the market place. It appears to be the perfect market for tenants to make the move into ownership. With inventory levels high, and the threat of interest rates rising as the economy improves, they have limited downside. The opportunity is in getting into the market at a low point prior to interest rates and demand increasing rising which will impact the affordability with in the market. Their down side is protected as they are already "out of pocket" the rent they are paying annually so "if" the market drops it would be worth comparing what that would look like compared to the rent they are paying. This could be the opportunity to position themselves into the market to enjoy the rewards of an uptick as the market recovers.
Regardless of the situation, it remains incredibly important to keep properties in ideal showing condition with appropriate pricing. The market is quick to respond or reject the pricing of a property so due diligence in market evaluations is key, and monitoring activity with in the market is imperative.
While we anticipate a slower market through summer however the Fall market could be a different story with the building demand.
Author:Manny Nkiwane Phone: 403-828-4750 Dated: July 9th 2018 Views: 51 About Manny: I am dedicated to providing excellent customer service. My philosophy is simple: clients come first....
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I am dedicated to providing excellent customer service. My philosophy is simple: clients come first. I pledge to be in constant communication with my clients, keeping them fully informed throughout the entire buying or selling process. I also believe in keeping in contact with past clients and helping them understand how changes in the market could impact their buying or selling decisions.
I believe that if you're not left with an amazing experience, I haven't done my job. I dont measure success through achievements or awards but through the satisfaction of my clients. I take great pride in the relationships I build and always work relentlessly on my clients behalf to help them achieve their real estate goals.
Todays buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With my extensive knowledge and commitment to providing only the best and most timely information to my clients, I am your go-to source for real estate industry insight and advice. Buying or selling a home is more than just a transaction: its a life-changing experience. Feel free to contact me for all your real estate needs.
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