Market Update May 2023

Prices are still high in our local market and inventory is starting to pick up.  Easton’s inventory is up 33% with 16 homes listed for sale on May 1st as compared to 12 in April.  Until recently, there were NO homes on the market in Easton for under $1MM, and that is starting to change with 7 of the 16 homes listed being under $1MM.  Fairfield’s inventory has increased 10% with 77 homes for sale, as compared to 70 last month.  It’s an extremely competitive buyer environment.  Many homes are receiving multiple offers and are under contract within days.

Buyer fatigue is a living breathing thing right now.  Buyers need to be ready in order to compete, so stay on top of things.  Make sure your mortgage preapproval is current and consider putting it through underwriting to be more competitive.  Make sure you are working with a local agent and mortgage lender who understands the market, and don’t give up on finding the home you’ve been dreaming of.  Stay in the game and let us know how we can help.  We have strategies for buyers!

It’s still a great time to sell and get top dollar for your home.  Sellers, even if you’re just beginning to think about selling, start planning how to get your home looking its best.  Presentation matters!  We are happy to speak with you about ways to present your home in its best possible light and price it to get the most eyes on your property.  Check out the RealVitalize link below for information on how you can prep your home for the market with no upfront cost.  I’m here to help!

As always, reach out if you are thinking of buying or selling. I would love to hear about your real estate goals and discuss creative buying and selling strategies or answer any questions you may have. And I wish you a very happy holiday!