After a two weeklong negotiation, I (Lee) was successful in getting to a win-win situation with the other members of my household who prefer the thermostat to be set to freezing. We agreed to turn the heat on downstairs to deal with the cooler October temps, and leave it off upstairs since we haven’t hit truly cold weather. Our local real estate numbers, courtesy of Real Estate Information Network (REIN, our local MLS) are similar – while our market is cooling, it certainly isn’t cold yet.
The higher interest rates we talked about last month are still having a chilling effect on our local market (click HERE if you want to read last month’s update). Both pending (under contact) and closed (settled) sales are down, but so are active listings. The median sales price increased to $310,000 in the year over year numbers (comparing September 2021 to September 2022), but that is down from $315,000 last month. Here is the summary:
The all-important supply part of the equation, however, still puts has us in a seller’s market. The months supply of inventory (MSI) has been holding steady around 1.40 months. This shows that even though fewer houses are selling, there is still plenty of demand from buyers in our local market. This demand, especially when combined with our proven marketing and negotiation strategies, means that homes are still selling well. If you would like a free no obligation market analysis on your home, give us a call (757-726-7653 for Lee, 757-434-9084 for Harry) or reply back to this email.
Click HERE for previous editions of this newsletter
Spooky Happenings in Suffolk
Touch a Truck & Trick or Treat
Bring your little goblins and ghouls to the parking lot behind the Courthouse (on N. Commerce Street) on Saturday, October 29, 2022, for Touch a Truck & Trick or Treat! The event begins at 11am and ends at 2pm, rain or shine. Enjoy food, candy, games, trucks, and more!
Friday Night Frights at the Center: The Ring
The Suffolk Division of Tourism wants to give you the fright of your life as they present a series of classic horror films at the Suffolk Center for Cultural Arts. On Friday, October 28, 2022, join us for “The Ring,” and find out why Samara wants you to answer the phone.
This 75-minute walking tour explores the hidden meanings buried in Suffolk’s Historic Cedar Hill Cemetery. The tour will feature Victorian-era symbolism, burial practices, funerary industries, and mourning rituals. This intriguing and educational excursion will highlight how the residents of Suffolk both lived and died in the 19th century.
Downtown Suffolk Trick or Treat
Downtown Suffolk has a SPOOKY event for you, We will be welcoming all GHOSTS, WITCHES, and GOBLINS too, On HALLOWEEN Eve, we hope you will come, To have some “pre-HALLOWEEN” trick-or-treat fun. Downtown businesses will be handing out treats, Some will be sour, but most will be sweet.
The Chris Michael Experience
Join the Suffolk Center for Cultural Arts as they welcome Chris Michael on Saturday, October 29, 2022. Chris Michael is a celebrity entertainer who has performed his unique mix of beatboxing, sleight-of-hand, mind-reading, and even dangerous stunts for thousands of thrilled audiences all over the world.
Legends of Main Street: A Suffolk Ghost Walk
A hair-raising encounter with the spirited side of Suffolk. Follow a costumed guide through the shadows of historic Main Street discovering stories, legends and “unexplained occurrences” by lantern light. Tales of unsolved mysteries and unresolved affairs abound throughout Suffolk’s historically hip Ghost Walk. Reservations required. $10 adults; $8 seniors (60+), military, and children 9-12.