Definitely A Buyer’s Market Now…
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With increasing inventory levels and choice for buyers, home prices have generally levelled off. The number of homes for sale in our area has nearly doubled over the past four months as many property owners decided to sell. And consequently, with much more choice for buyers, sellers are having a more difficult time getting contracts on their homes.
Instead of selling at 20% premiums over recent sales, many asking prices are being reduced, and homes in general have been
selling at prices much closer to recent comparable sales. This is a good thing for buyers, and sellers must now ensure that they
seek every opportunity in marketing their properties better than their competition.