With interest rates remaining fairly steady at a much higher level than has recently been the case, many buyers appear to have opted to wait out the market for now, and the result is longer days on market.
Prices though are holding their own to a large extent, particularly for homes with the “wow” factor. This really emphasizes the importance of detailed preparation and improvements where appropriate if sellers are to get the maximum return on their investment as well as achieving a fast sale.
Regardless of all this, we are still in what would be considered a sellers’ market, with inventory levels nowhere near sufficient to meet buyer demand. Right now, there are only two single family detached homes for sale in Twin Creeks, and judging from the time on market, buyers consider them to be somewhat over-priced.
Traditionally, we see more homes coming on to the market in September / October but as there have been many list prices reduced before getting a sale agreed, this may be keeping would be sellers out of the market. Price Reductions are Highlighted Above.
Questions about the real estate market in Twin Creeks or anywhere else? Call Bernard Gibbons on (925) 997-1585 or Michelle Hensley on (925) 785-5544 anytime, or email email@example.com. We will help in any way we can and we are always happy to hear from you.
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