It's been quite the ride when it comes to the real estate market over the last 5 years!

Below you'll find a snapshot of the changing market from the pre-covid to post-covid years. As we're past the fast-paced market of 2020 and 2021, we're getting back to a balanced market. Partially due to increased property values, along with increased interest rates. Overall, the local market is healthy. Inventory is low though as it's hard for sellers to give up those 3% rates for 6%, however, we're hopeful they continue ticking down between now and then end of 2024. When that happens, demand will rise though as many buyers who are sitting on the fence will be jumping back into the pool.

So, if you're considering buying, we wouldn't recommend waiting for rates to drop - as prices will just end up increasing at the same time. Buy the home when the right one comes up. You can always refinance later!

Are you regretting making a move in the last 5 years? Reply to our newsletter and let us know!

 

Cheers to 2024,

Amanda