Has Anything Changed? Thoughts from Judy Stacee-Cleaver
Tuesday Mar 21st, 2023
Thoughts From Judy Stacee-Cleaver
Broker of Record, FRI, ABR, ASA
Has Anything Changed?
Well, the first month of 2023 is over and nothing has changed... or has it!
Everyone is waiting to see what February will bring. It's been a slow climb after the pandemic halt.
Those crazy bidding wars seem to be in the distant past. When you have been in business and watched the cycles over the years, well, we used to be able to call it. But caution is now the key word, and that's okay.
It's nice to see people traveling again and families enjoying time together.
In the past six to eight months, many people put their plans on hold, waiting to see which way the market would go.
Today, we are looking at two situations unfolding. There are those who have decided to go forward with their plans because of lifestyle changes — and those that must sell because of rate increases and financial concerns.
The increase in listing inventory may, percentage wise, increase faster than the percentage of sales and will definitely have its effect on the market.
What does it take to sell a property? Pricing is the key factor! As more properties come on stream, higher inventory may force sellers to adjust their price to attract an offer.