Your new home search begins here

The inventory remains at historic lows as is noted in the statistics below. We are starting to see a few homes dribble on to the market and for the most part, every house is getting multiple offers immediately. That is nothing new!  

What is new however is since the start of 2022, the pricing has taken yet another leap.  While agents and sellers during the 4^th qtr of 2021 had been careful NOT to price their properties at the level that their neighbor received after having 10 offers, that is no longer the case. Many new listings hitting the market are now being priced at the highest levels we have seen. The new starting price is now what any given comp closed at after multiple offers.
 
Buyers are still flooding the market to grab up these new listings. Open houses are off the hook busy! Yesterday, a new Maplewood property listed in the mid 800’s that needed updating, had 70 sets of people at their open house.

As agents, we see how these price hikes are forever changing the affordability for some people to move here. It is becoming an area that requires very serious resources in order to secure a winning bid and be able to afford the payments. Many of us who live here recognize the many benefits available to us in the area, but at a certain point prices will hopefully relax!

Let us know if you’d like to receive our free market updates – usually every other week. We’ll add you to our subscriber list.