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What a great vibe we are stepping into currently in respect to real estate. Everyone is in anticipation of what is to come moving forward. The general buzz is that the interest rates could have a possible decline and the thought is that those hesitant buyers and sellers may be waiting on just that. With the good weather, not on the horizon, but already here in an early fashion the moods are positive and that is generally when everyone feels prepared to get moving. At McGarr we are seeing some properties moving quite quickly. Our Realtors are very skillful pricing professionals.
For February, months of inventory available was 4, down from January, at 5. So, the sales to listings ratio is a little tighter. Number of new listings is up by just over 21% from January, with number of sales up even more….+44%!
That is a good sign. Inventory is still moving “slowly” in the region, taking about 82 days to sell on average, slower this year so far than any point over the last number of years, but that is okay. Prices are still holding strong and given the attempt to slow the market, which worked, that was to be expected.
If you are thinking to jump in either as a seller or a buyer, it is a great time. As far as selling, there are most likely many sitting on the sidelines waiting for more activity and buyers waiting for interest rate drops. So, consider making the move while inventory is still somewhat limited making for less competition and prices are still reasonable for purchasing.
Give McGarr Realty Corp., a call. Now is the perfect time and timing is everything when it comes to real estate.
There are a few things for you to know:
Again, we hope you have found this helpful. We will continue to update all of the above as we move through the coming weeks and months.
Your feedback, thoughts or inquiries are always welcome.
You can contact us here.
Most importantly, take good care and be safe.
The McGarr Team.
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