The Latest Numbers From Q3
This is what’s been going on lately in our real estate market.
We’re officially in quarter four of 2021, so we thought now would be the perfect time to update you on our real estate market. Things have been volatile lately, and the market is always changing. Hopefully, this update will give you some insight into where we might be heading.
Back in spring, the market was kind of like the wild west. Homes were selling in days and with multiple offers. However, we’ve seen things cool slightly as the season changes. People are vaccinated, traveling, and getting their kids ready for school. While it’s still a relatively small change, all these factors have led our market to balance out.
"If you have a smart strategy, you can still get a great deal for your home."
Don’t get us wrong, though; we’re still in a seller’s market, but things are definitely slowing down. In Baltimore and Carroll counties, the number of homes going under contract and heading right back on the market has increased 15% since May. This means these homes were ready to be sold, but something fell through. Price decreases are up 43%. These numbers are price point and market-specific, but they show us buyers may be pushing back.
If you’re a seller, don't worry. If you have a nice home in good condition and you price it in the $300,000 to $500,000 range, people will still clamor to give you an offer. It isn't a bad market for sellers—you just need to have a plan in place to sell your home. If you hire a great agent and do what you’re supposed to, you can still easily get a great deal.
It’s not spring anymore, but that’s okay. Whether you’re looking to buy or sell, we have the strategic tools necessary to get you a great deal, so give us a call. We are always looking to help.