The SCCL market has slowed down quite a bit in the last 5 months or so. The number of ACTIVE listings has gone up and the number of showings has gone down. You can follow market information using the "UP-TO-DATE-STATS FOR SCCL" and "WHAT KIND OF MARKET ARE WE IN?" tabs above.
In my September 1st posting aboutOUR CHANGING MARKET, I mentioned that SCCL is seeing an increasing number of price reductions. According to an article by Keeping Current Matters that I posted yesterday, titled Why 50% of Homes Are Selling for Under Asking and How To Avoid It,"that isn’t necessarily bad news, even if it feels like it. Here’s
why. The wild run-up over the last few years was never going to be
sustainable. The housing market needed a reset, and data shows that’s
exactly what’s happening right now."
Sound decisions can only be made with accurate and reliable information. If you haven't had a chance to read the postings mentioned above, please be sure to do so. It's in your best interest to be well-informed.
If you have questions or would like to discuss our current market,
please contact me. I'm always happy to answer your questions. If
you're currently working with a real estate professional, this is not intended to be a solicitation.