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Your Monthly Snapshot on the PhinneyWood Real Estate Market
MARCH 2023 REPORT
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The market is picking up speed again! Now, if you compare this month's
stats to those from last February, it might seem bleak. But remember that
last year the market was overheated and appreciating at an unsustainable
pace. To get the correct story, you need to compare this month's stats to
those from the last couple of months. The story there is that of renewal,
but without the craziness.
The market is full active buyers who are earnestly looking for good homes.
You can see that in the strong increase in the number of listed homes that
go pending and the number of closed transactions, and the drop in the
number of days on market and in the overall inventory levels. All these
trends are pushing home prices higher, although at a modest pace.
With interest rates rising recently, it's not yet clear what will happen to all
this buyer momentum. on the sellers' side, we see new listings every week.
What's interesting is that the sellers seem to have internalized the new
market pricing, which helps keep the buyers interested.
Thinking of selling your PhinneyWood home, or buying a home in our neighborhood?
Find out how the PhinneyWoodHomes data can guide you to make better decision.
For a free, no-obligation consultation, call Doron Weisbarth at 206-779-9808.