Are we in a buyer’s market? I’m not sure I’d go so far as to make that bold statement but given the shift cooler in the market over the last few months I would say this is a window of opportunity for some buyers.
Even given the increase in rates, fluctuations in the stock market, and uncertainty in the tech world.
We’re seeing more days on the market, some properties being sold at or below list price, a return to contingencies and seller credits, and a return to robust negotiations.
And we’re just now heading into the historically slower Holiday Season.
This Buyer Opportunity is troubled, of course, by the ever-present issue of low inventory.
But for those poised to purchase, the next few months may provide a welcome prospect. Between now and mid-January you'll face the least amount of competition from other buyers than you have had over the last two years.
This is your chance.
For my sellers reading this – don’t despair. But do know that it is essential to strategically prepare and market your property or maximize exposure well beyond your local community right now.
It is also more important than ever to rigorously evaluate all offers you do receive.
The highest price is not always your best choice.
Other factors come into play in selecting the most reliable offer.
In many ways, all of this represents a return to the Art of the Nuanced Real Estate Transaction after a brief season of blunt over-the-top fast-paced deals.
The devil is always in the details, friends: thoughtful strategy artfully executed wins out every time.
