If there is a surge of inventory next year, will sales increase too?
Yes, probably.
There have been 6% more sales this year.
Oh – but there were 15% more listings. Hmmm it sounds like not every seller gets out.
We could be set up for an old-fashioned price war, where only those sellers willing to deal can find a buyer.
It won’t be vicious.
It will be civil and gentlemanly, and the condition of the home will play a big role in the outcome.
1880 recorded. +5% median price. $1k+/sf holds. There will be more low priced and more high priced houses selling. When do the Red Sox play the Padres? 😉
There’s a house near me that been on the market for 6 months so far. If Zillow is to be believed, it actually sold in March 2024, then was immediately relisted for 140K more than it just sold for. Since then, they’ve raised and lowered the price by small amounts, and delisted and relisted it multiple times. You’d think the agent would be begging the client to lower the price substantially, and would quit when the client refuses. But who knows what’s going on here.
People don’t get good help and make mistakes.
Or a life-chaging event happens, like death or divorce.
Either one causes an immediate re-list after purchase, and they always add the obligatory 5% to 10% because it was a deal just because they bought it.
Selling for what they paid, or for less, is brutal on the ego.
There was a house in the same development, slightly smaller floor plan, that was listed around the same time for a higher amount, and they got it. That might have given this other seller an idea. But maybe that was just a brief peak in the market. And maybe the house that hasn’t sold just doesn’t show as well, so they missed the peak. But that’s all idle speculation.
1880 recorded. +5% median price. $1k+/sf holds. There will be more low priced and more high priced houses selling. When do the Red Sox play the Padres? 😉
Sounds about right, although if there is a surge of inventory, the sales will drop before the pricing.
This was the year for the Padres. Roberts made the disparaging comment about Manny throwing a ball into the Dodger dugout, which was a classic Phil Jackson move. We didn’t score another run (shutout in both of the remaining games).
This team goes where Manny goes, and Doc got into Manny’s head. So no World Series this year for the Padres. Maybe Cancun?