Fast and Decisive

Last year, we were quite busy, and having a banner year. Somehow, this year, we put 23.8% more transactions together in August 2015 than in 2014.  How did we do that?  Primarily, I think with more decisive buyers and sellers.

More decisive buyers and sellers also contributed to our still low inventory (1.9 months as compared to 3.0 months in August 2014) and to our quicker market time; 41 days as compared to 63 days in August 2014.

Though not a scientific sample, the great majority of my buyer clients this year, actually looked at fewer than ten houses before making their purchase.   And some as few as four.  But...before you jump to conclusions, they all did TONS of online research in advance of and during our in person shopping.  So that is the other part of what has changed...technology and research.

And, of course, prices are up.  The year to date median price is $305,000, compared with $285,000 year to date in August 2014.

We are though, seeing some seasonal slowing, and even priced reductions.  Some of the sales with prices driven high by emotional multiple offers are now closing.  I'm not sure those houses would have sold at those high prices, had we actually priced them there to begin with.

So for fall, the market will continue at a fast pace, with more decisive buyers and sellers (fall is NOT a time for looky loos).  While interest rate increases may occur, I doubt we'll see anything drastic. Remember, we had a boom market with interest rates at five and six percent.

Let me know if you have questions, or are feeling decisive :)  leslievjones@gmail.com 503-312-8038

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