May’s data for Single Family Homes shows a slight uptick in average sold price by just under 2% from the previous month’s data. Condos show a decrease of nearly 5% over the previous month’s data.
Supply for both housing types are increasing as the buyer pool remains somewhat steady. This is evident by prices for both housing types achieving a round 95% of original list price. Additionally, bidding wars are no longer ample in most markets which is another sign of the overall market shifting in favor of the buyer.
If you are planing to buy or sell this season, having the correct agent to assistant in negotiating strategy is imperative. Real estate is an investment and alining with a properly trained real estate investment advisor is critical in achieving maximum profitability on either side of the deal. Prospect Equities® agents are rigorously trained in BATNA negotiation and real estate investment analysis.
What are your thoughts on buying or selling your home on current economic landscape?
