Q: How Is Today’s Real Estate Market?

How is today’s real estate market? It’s fairly well-known that we’re in a strong seller’s market. Conditions are extremely competitive—buyers have to compete against many offers, and sellers are receiving many offers. 

What makes ours a seller’s market is that there are more buyers out there than people willing to sell. Any homes that come on the market and are priced correctly oftentimes attract several offers within just a few days, thereby causing offer prices to increase. At the moment, practically every home is selling at or above listing price. 

This means we Realtors have to get creative when finding buyers the properties they want. Paperwork is crucial in making your offer look as enticing as possible in sellers’ eyes. We don’t have to get as creative when selling properties. That said, we still provide each home seller with a great marketing package that shows the home in its best light and brings as many buyers as possible. 

Oftentimes, properly priced homes that come onto the market attract several offers within just a few days.

While we are in a seller’s market, it’s still a good time to buy because interest rates are so low. Just make sure you have your ducks in a row so that you don’t have to take a few extra days to decide whether a home is right for you after it hits the market. In our current climate, you’ll only have hours to decide. Speak with a lender, figure out your financing situation, and make sure you have plenty of money saved up because it’s unlikely you’ll get any seller assistance.

If you work with The Ramsey Rhoads Team, we’ll educate you on what you have to do to make a winning offer for the home you want, so if you’re ready to start your home buying journey, don’t hesitate to reach out to us. 

If you have any other real estate questions, feel free to contact us as well. We’d love to help.