Real Estate Update: October 2022

Local Real Estate Update

Although we have continued to see the market slow down during our local off-season, 15% of properties sold over original asking price in October 2022. This shows there is still a demand. We are seeing slightly more days on market as well as less escalated offers month over month.

We’ve seen homes in the valley retain their value, and although the market is slowing, the prices are holding. Investing in real estate might feel counterintuitive right now, but the negotiating power that buyers have, just might make it worth it.

Reach out to let us with any questions you have, and to discuss whether now is the right time to buy. It might not be, but if it is, we would love to be your real estate advisors that help you find your place in the mountains.

National Real Estate Update

Over the last 6 months the market has slowed and there have been a few bottles of tequila emptied, but it is still a great time for Buyers and Sellers. Buyers have more opportunities with less pressure to make a decision. Sellers still have a great opportunity to sell since inventory numbers have not increased enough to create downward pressure on list price.

With the uncertainty ahead on inventory levels and around interest rates, our advice is “Marry the Price, Date the Rate”. Committing to a home in the next few months means you have more options as there is less competition and sellers are willing to negotiate to get their home sold, often by accepting a lower offer. By locking in on a home, you lock in the price, and are able to negotiate and refinance your home loan to get a more attractive interest rate once they start to go down in the next few years.

Want more national real estate news? Click the button below to read our National Real Estate Digest for October 2022.

National Real Estate Digest