It is still a good time to sell, but the lines around the block at an open house are generally a thing of the past. Now that the covid-fueled market has calmed down, there are opportunities for both sellers and buyers. Sellers are still getting good prices- but maybe 2-3 offers instead of 10-15.
Buyers have much better opportunities to buy without the same level of competition. We are seeing increased buyer jitters in the market over rising rates, so even for buyers with a backup offer, they may be rewarded if they are patient.
Rents are continuing to rise, which is motivating buyers to lock in their shelter costs by buying a home, while providing investors with great returns.
Want to hear more? Give us a call at 201.888.2900 for answers to all your questions about today's market.