The recovery from the 2022 correction continued in Q2 of 2023. Since December 2022, prices have increased at a rapid rate. Inventory remains tight and absorption is steady due to pent-up buyer demand. Shorter days on market and healthy list-to-sale price ratios illustrate when a seller meets the market with appropriate pricing and is in good condition, a swift and successful sale is in store. Despite higher interest rates the market continues to churn. Rates are anticipated to come down, and when they do competition will increase.
If you are curious about how the trends relate to your goals, please reach out. It is my goal to keep my clients well-informed to empower strong decisions.