Home Prices
March saw a continued dip in appreciation in both single family detached as well as condos and townhomes.
The YTD drops are a little over 3% on the single family and less than 2% on townhomes and condos.
The Biggest Change
The biggest change year over year was the ratio of list price to close price.
In 2022 sellers averaged 6% over list price for the sale of their home! The ratio has come back down to earth, with the average property selling for less than a percentage below list.
Knowledge Matters
The beginning of 2023 has seen a lot more properties needing price drops than a year ago. It’s more important than ever to carefully analyze list prices.
Homes needing a price drop take much longer to sell than homes priced correctly.
On the flip side, buyers are taking advantage of a lot of seller concessions this year to buy down interest rates.
Having a knowledgeable broker on your side can make a huge difference with pricing and contract negotiations.
Get the Complete Presentation
Don’t miss the chance to gain valuable insights and data! We’d love for you to check out our complete presentation on the real estate trends for March 2023.
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