Busy doesn't even begin to cover it.
The spring market was delayed by the weather, but we’re seeing it come out in full force, now. Inventory has been dropping steadily for three weeks in a row – and that's not just a local story; it's happening across the country.
Pricing is holding firm & rising slightly in some categories, multiple offers are back in many cases, and properties are moving as fast as they're listed (when priced correctly). We recently accepted an offer on a home for $225,000 over its listing price. The first offer that came in was full price. Thankfully we have a process that allows the time for multiple offers to occur. Had the Seller taken that first offer they would have missed out on $225,000. That's the market we're in right now!
We expect this pace to carry straight through the summer, so if you're thinking about making a move, let’s talk sooner than later so we can get you on our schedule.
A few economic factors we're keeping a close eye on:
- Interest rates are sitting at 6.35% and will likely stay in that range for the foreseeable future.
- The situation in Iran hasn't rattled the market the way some feared it might. Outside of slight variations in rates, it's been steady.
Something that has surprised us:
Many buyers are coming to us after being floored by new construction estimates. An existing home will often get you more for your money, and the finishes and character are typically better than what new construction offers in many price points. The lots are often much larger and more attractive as well.
We're also seeing a real shift in who's buying. Younger buyers are very active right now. Waterfront properties remain as sought-after as ever, and Door County continues to be red-hot. On the other end, empty nesters are largely staying put – not because they don't want to move, but because they're uncertain where they'd go and understandably cautious about taking on a mortgage as they head into retirement or settling for less than what they currently enjoy. It's a conversation we're having a lot, and we're here to help every individual family work through it.
We’re so grateful!
Our team was recently awarded the Icon Award, which is one of the hardest recognitions to earn at eXp. We are the number-one small team for eXp in Wisconsin and, this week, number one small team in the country. We had no idea of any of these developments. It was a TOTAL surprise (a nice one!). We were busy doing what we love…Heads down, working hard for our clients, and this is what came of it. We're proud, and we're grateful! It is always nice to be recognized for your hard work. Love that!
Our clients trust our proven process, and it shows. With our system, our clients often walk away having made back the brokerage commission (and then some.) That's not an accident. It is a proven strategy that has earned us great listings, incredible partners, and clients who simply get it. The rewards are hard earned and appreciated by all!
We're having more fun now than at any point in our careers. And we're just getting started!
