PhinneyWoodHomes.com

Early buds of the spring real estate market began appearing in our
PhinneyWood neighborhood in January. By February, the signs were
unmistakable. New listings increased, more homes went pending, closed sales
rose, and median prices took a healthy leap upward. At the same time, the
average number of days homes stayed on the market dropped sharply — a
clear signal that buyers are actively competing for the homes coming onto the
market.

In other words, the familiar spring pattern appears to be unfolding once again.
But there's an important caveat: the numbers we're seeing reflect activity
from just before the latest round of global disruptions that pushed energy
costs sharply higher, sent the stock market lower, and introduced a fresh wave
of uncertainty. Mortgage interest rates briefly dipped below the 6% mark at
the end of February before climbing back up again.

How — if at all - these developments will affect our real estate market locally
remains to be seen. In the past, our market has proven remarkably resilient
even through inflation spikes, rising interest rates, and other disruptions. Still,
there are never guarantees. The next few months will be very revealing.

If you're thinking about buying or selling this year, early in the cycle is often
when the best opportunities appear. For a no-obligation consultation and a
smart plan tailored to your goals, call Doron at 206-779-9808.