Many people watch the real estate market with great interest. It is fun to imagine what we could sell our homes for or to see what the houses near us are selling for. Without question, these past months have been some of the hottest months in real estate in the Lake Country in years. We have seen a much smaller inventory, which has driven the prices for what comes for sale up. On top of the increased prices, multiple offers have come in with greater than asking offer amounts, escalator clauses and no contingencies. Many buyers have thrown up the white flag for the moment in hopes “things will calm down.” Interest rates have gone up, but the number of homes for sale has not. Buyers waiting, interest rates and low inventory, combine for a puzzling real estate picture.
The reality of this market is that interest rates are still lower historically. Buyers who have chosen the sidelines for now are still watching to see if something amazing comes on the market. Most importantly though, home sellers are questioning if it is still the seller’s market it one was, and some may be waiting to put their houses on the market. All of this combines to maintain market conditions that are very similar to what they have been over the past few years: a low inventory, higher priced seller’s market, where offers will still contain higher than asking offers and few contingencies for the best homes and properties for sale.
If you are wondering if it is a good time to put your home on the market, consider all of these factors. It is hard to predict the future without magic, but it is reasonable to believe that at a minimum, today is as good as the near future for listing your home and may well be better timing than next May when we are unsure of what the market may bring. It is still an excellent market to get top dollar for your home and do so with the least hassle.

Article by: Joseph Moylan- Realtor