There Are Not Many Black Friday Deals
Last month we wrote how things normally slow down in the fall and while that is still true, the last week around the office has felt more like the real estate market has just pumped the breaks. We aren’t anywhere near a complete stop. We have been averaging a ratified contract every other day over the last ten days, which would be a lot, even for spring time.
Based on numbers from our local MLS system (Real Estate Information Network) the number of homes for sale across Hampton Roads continues to go down. In October there were 10,172 homes for sale which is 287 fewer homes than September and 679 fewer homes than August. In just two months, the number of homes for sale has gone down over 6% across Hampton Roads.
Please keep in mind that as a general rule, no one wants to move their Christmas Tree (speaking of Christmas Tree, make sure you check out our contest below). There are almost always more homes available for sale in the spring, but at this point our inventory of homes for sale is down below normal numbers and buyers are having trouble finding homes in certain price ranges.
Seller’s sometime wait until Spring and Summer to list, but with the inventory level low, if you know you are going to move, we should go ahead and talk through the pros and cons of listing now. Give us a call (Lee: 757-726-SOLD (7653) or Harry: 757-434-9084) or just reply back to this email and we are happy to set up a time to talk in more detail about your personal situation.