The Valley housing market is seeing slight movement, according to That Real Estate Show’s Dianne Brennan and Tina Tamboer.
“We’ve been talking for months about a growing sellers’ market, but it looks like now it’s starting to cool off just a little bit,” Tina Tamboer of the Cromford Report said.
While we’re still in a strong sellers’ market, Tamboer said “supply is starting to creep up in all of the price ranges.”
Brennan said that “Even in the under $300,000 and under market, which has been in notoriously tight supply, we’re now seeing it start to grow and demand is inching down ever so slightly.” In the past, homes for sale in Augusta Ranch may have had about 15 people wanting to see their home, but that number is expected to decrease.
Brennan and Tamboer say it’s still a great time to sell your house, though.
“It’s still very hot. It’s still a very good time to be a seller,” Tamboer said. “If you’re thinking about putting your home in the market, you want to do it while you still have the advantage.”
At the Cromford Report, Tamboer meticulously monitors data like the number of active days a home is on the market and price changes to gauge the market forecast. Even with the slight shift, the market is still strong and many sellers will not notice the calming market since many are still selling quickly and even some are receiving multiple offers.
Brennan said “As far as buyers go, a slight cooling trend is good news.” The competition has died down some and things are looking up. Tamboer said “It’s not a bad time for buyers to get back out there and see if there are a few more homes out there for sale.”