Market Update September 2020

I can't believe it is September already! Fall is certainly in the air and back-to-school is looming in a new and uncertain way. Traditionally, we see a slow down in the real estate market during the summer months of July and August with a pickup of new listings in September. Not this year. We've seen listings pop up like crazy only to sell just as fast.

Homes have been selling in a matter of days, most entering into multiple offers, selling over asking price, AND selling firm.

It is a Sellers Market right now and I do not foresee that changing for the month of September. I anticipate more hot listings for the month as the Fall Market begins.

A key point in this market right now, particularly if you are a buyer: Be sure to be prepared and have all your financing in order. A pre-approval isn't going to cut it. Seek to obtain a mortgage commitment amount because if you are going to win that house right now you will need to have funding in place before you submit your offer. Mortgage rates have dropped again this summer and are at an all-time low. Qualifying for a mortgage also just got easier.

For other pointers on buying, selling or anything else real estate, contact me today. I would be happy to help.