At The Christensen Realty Group We’re not just Realtors, We’re Neighborhood Housing Economist …

January through April was on fire. Extremely low inventory and high demand for our neighborhood created a buying frenzy. Multiple offers and final sales prices well above list price. This pretty much sums up that 4 month period. 

As we put new homes on the market in May we could sense the market was slowly beginning to cool. We were still getting multiple offers and still selling over list, however, rather than 10-15 offers and selling $300k over list, we were getting 1 or 2 offers and selling just over list. By July it was clear our market was rapidly shifting to a slower, less intense market. Inventory began to climb significantly, days on market increased, and we started seeing price reductions for the first time this year.

So why the slow down? Is it the seasonality for our community? Is it the upcoming election? Is it increased inventory? It’s all the above, plus one additional, important factor:  As we moved through the spring homeowners were watching home prices soar and thought, “it’s a good time to sell!” However, as often happens in our community, more homes were coming onto the market at the very time demand began to subside. Not only were more homes on the market, they were pricing their homes higher. 

While the spring market was very hot, the market pushed prices higher, not sellers or agents, but the market … buyers! Different markets require different pricing strategies. We would not use the strategy we used in March in August. 

Here’s a market question for you. As a matter of fact, I’d love for anyone who wants to respond to email me at dan@christensenrealtygroup.com.

We had a couple homes during the frothy spring with multiple offers and the winning offer was $150,000 – to over $200,000 above the next highest offer! So my question:  where was the market for those two homes and why/how would this happen?

This is not happening now. It’s impossible to predict exactly what will happen when we move into a new year and a new spring market, however, we are anticipating another low inventory, high demand environment.

You may not have the luxury of waiting to put your home on the market in Spring of 2025. You may need to sell now or in the next couple of months. You know what? It’s still a great market. Park Village home prices have soared over the past few years. This community is extremely desirable and in high demand. 

Keys to Getting Top Dollar in Any Market:

1. Hiring Neighborhood Experts with a verifiable track record
2. Presentation 
3. Proper Pricing
4. Exposure

The Christensen Realty Group doesn’t sell every home in Park Village – not by a long shot. That said, we’re not quite sure why 🙂

Call us today to learn what CRG can do for you!

858-869-9035