September Real Estate Market Update for Bucks County & Surrounding Areas
The real estate Market is still crazy! Inventory is at record lows! (I didn’t think inventory could possibly be this low)
Right now, in our market sellers are looking to capitalize and get the most. Yet, if you overprice your home, it will sit on the market. Buyers know the market and do not want to overpay.
Buyers want to take advantage of the low interest rates which gives them more purchasing power, meaning with low interest rates buyers can afford a higher priced home. So, it is an ideal time to buy or sell.
A common question I have gotten from Sellers is: “Will there be less buyers looking now that school has started again?” The easy answer is, no. With inventory at these drastic low levels over the past few years, we have seen buyers be very flexible. Buyers today are not opposed to purchasing a home in the middle of a school year. September and October will be a great time to sell. Demand will remain high!
If you are thinking about selling and want to net the most, come out to our Home Selling Seminar at Core Creek Park on September 16 at 2pm. It will also be streamed live on Facebook. You can also pick up a copy of my new book, How to Net the Most When You Sell Your Home, available on Amazon.
When it comes to buyers, we have seen a few trends:
We have seen an increase in buyers who want to purchase fixer uppers. That market has skyrocketed. People are out trying to find a deal. And right now, unfortunately those deals are extremely difficult to find. The competition is fierce which drove fixer upper prices up as well.
Same goes for the investors who flip houses. The number of people who are trying their hand at flipping has quadrupled in the past few years. This has sent the price of foreclosures through the roof. It has become difficult in our area to make a decent profit flipping a home.
No matter the condition of your home, if you are thinking about selling next month or in a few years, I offer a free, no obligation, 30 min home salability assessment. This is where I come out to your home and give you tips and tricks on what to do to prepare your home for the market.
Until next month I am Christina Swain with Keller Williams
Info@SwainSells.com / 215.757.7257