Market Update

Windows Of Opportunity

While 4th Quarter Sales slowed, the length of time on the market doubled to 32 days and the number of offers decreased, the average sale price in Walteria still increased. Home prices remain steady.

Many potential buyers went into “Wait-it-Out Mode” as a result of rising interest rates in 2022. However, a recent increase in loan applications and a decline in interest rates, both indicate that buyers will be rejoining the housing market in 2023. With only 3 homes on the market in Walteria, options are limited (until Spring).

Mortgage rates are approximately 5.5-6.5% ~ "As inflation continues to moderate, mortgage rates declined again this week. Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment. Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern, said Sam Khater, Freddie Mac’s Chief Economist."

THINKING OF SELLING?

Market trends vary by city, neighborhood, and season. Housing demand is also affected by fluctuations in interest rates, the economy, and a number of other factors. Choosing a REALTOR that understands the nuances of varying market conditions and how to navigate changes that affect your property value is crucial to a successful real estate transaction.

Call us today for Free Consultation! ~ We look forward to hearing from you

Your Walteria & Victoria Knolls Specialists, Julie & Sarah

$1,172,407 AVERAGE LIST PRICE

$1,162,480 AVERAGE SOLD PRICE

3 LISTINGS FOR SALE

4 LISTINGS PENDING

32 AVERAGE DAYS ON MARKET

(** Denotes Properties Listed and/or Sold by the Lockwood Team)

Based on information from the Association of REALTORS®/Multiple Listing as of 1/23/2023 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. If your home is currently listed by another broker this is not intended as a solicitation. Information contained herein deemed reliable, although not guaranteed.

“We had a pleasant experience with the Lockwood team. They simultaneously sold our townhome and helped us buy our dream property. Julie and Sarah went above and beyond for our growing family and were able to bring an impressive amount of knowledge/ experience to the table. They ensured that we knew what steps we needed to take and what to look out for when buying/selling a home. They ran a tight ship and ensured that milestones were met when expected. We couldn’t ask for a better team. Do not hesitate to call them as they are pleasant to talk to and will guide you on your journey.“ - Brent

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