The Brownstone Group's Bi Weekly Email Newsletter
November 4th, 2022
Changes are happening in the real estate market. Take a look at the local statistics below for the month of October. You will see that there are more homes on the market since last year same time period, home sales are down, and days on market are longer than this time last year. Home values are staying steady, but we are watching weekly as to what the market is telling us, as every week shows trends to the future. Point to note is it is still a sellers market as the inventory, although up compared to last year is still low. This makes it still good news for sellers. As for buyers, you have negotiation power now compared to most recent months. Sellers are offering all kinds of incentives in the negotiation of their properties. It is back to more of a normal market in that regard. There wasn't need to incentivize in the past 2 years, but now we are back to negotiating offers. There are many ways to negotiate that will make it appealing on both sides. Please read the article and listen to the video below for further insight. And of course, I am always here to discuss strategy with you if you are thinking of selling, buying or investing in the market.
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