A Note From Colleen...

Dear Friends!

Spring has sprung & I know we are all more excited than ever to welcome the sunshine! With the end of Q1, we are seeing signs of stability in the market. Yes, in some pockets of the city prices are lower than 12 months ago. And yes, interest rates are up (and have been about the same more or less since the fall), but we’re also seeing some life with new buyers entering the marketplace and the number of transactions trending upwards!

Just in the last week, I wrote two offers representing buyers, and all were very competitive receiving multiple offers. My takeaway is that for the best, most desirable homes, buyers are willing to compete. That being said, we just haven’t seen a lot of quality come on the market this year, and by quality, I mean something I’d give an “A” to for location, condition, and floorplan. These A properties are moving quickly & often with multiple offers.

Buyers will step up and get what they want if the home feels compelling. Please read on below for some fascinating just released statistics, and if you have questions about what you’re seeing out there or if I can be a resource for you, please reach out to me!

All the best,

PS - At a more macro level, check out this N e w York Times article with some interesting info on national real estate trends.