What You Should Know About Price Reductions

As you know, interest rates have crept up on us, and things are changing in our market. That’s why I want to talk to you about some of the interesting trends I’m seeing right now.

A lot more homes are coming back on the market. In January, we had 46 homes that went under contract and had to go back up for sale. That could be because the home was in rough condition, the buyer had a change of heart, or they ran into financing issues.

There were 45 in February, 58 in March, 56 in April, and 68 in May. You can see how they’ve been increasing as the year went on. This could present opportunities for buyers. When a home comes back on the market, it often does so with a price reduction. 

We’ve also had a lot of price changes. In May, 118 homes changed their pricing, and this means sellers are starting to price their homes right. They aren’t losing value; they’re just bringing the price down. This is another great opportunity for buyers.

If you’re interested in either of these options, I send out weekly back-on-market and price-change lists. If you want to have these lists sent to you every Monday, text or email me, and I’ll send them to you too. As a buyer, this list may have some good opportunities for you. If you want to sell your home, these lists are a great way to watch what the market is doing. 

This is a great time to be active in the real estate market, and I’d like to help however I can. If you have any questions or are interested in those lists, feel free to call, text, or email me. I’d love to hear from you.