- Everyone remembers the crazy market in the first half of 2017. Everything was selling with multiple offers.
- The market cooled off near the end of 2017 and took a few months to bounce back.
- It was nearly impossible to compete with 2017. The average prices have stayed about the same from 2017 to 2018.
- Number of sales were down by about 15%.
- What will happen in 2019? No one has a crystal ball but assuming the mortgage rates don’t go up too much the market should slowly continue to creep back up. Not sure if it’ll hit 10,000 sales this year but it should be better than 2018 (for sales and average prices).
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Is Winter a good time to sell?
There are 2 key benefits of selling in the winter.
- Less competition. Everyone is waiting till the spring to sell.
- The buyers that do come through your house will be more serious. Casual buyers always enjoy looking at houses when the weather is nice (even though they might not buy). Only serious buyers go out in the winter.