October 2022 Market Trends
– For the most part price ranges 0-$699,999 is still a sellers market if a home is priced right.
– Price range $700,000-$899,999 is now for the most part a balanced market
– Price ranges over $900,000 are a buyers market (again only if a home is priced at fair market value)
– 37.1% of the sales in October were cash sales
– Buyers are not only able to negotiate more contingencies but also negotiate down on the price
– Some builders are starting to offer credit toward buyer’s closing cost or interest rate buy downs- reach out if you would like to know which builders
– Sales for the month of October were down 35.5% from the same time last year
– Homes that close in October and were on the market over 91+ days sold average 86% of original list price to sales price. This means if you are looking to negotiate you could have more luck with a home that has been on the market over 3 months.
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