Musings from the Mountains

I realize I have spoken about this on our May 15th blog, but a trend is continuing, and it is important.   Home inventories continue to rise.  After a couple of years of thin inventories, it seems now that everyone and his brother has put their home on the market.  For the first time in a couple of years, houses are plentiful, buyers, not so much.  In my humble opinion, after being in a seller’s market for so long, we are now in a buyer’s market.

This can be a tough market for real estate agents.  Sellers depend on real estate agents to sell their home in a timely fashion.  I am almost positive that days on the market (the time from a home going on the market until it’s sold) will increase.   The other unknown is pricing.  Historically when going from a seller’s market to a buyer’s market, prices decrease.  So far, this has not occurred.  The last numbers I have for the county were the final numbers for April.  In April the average sales price was actually up 27% from April 2024.  I believe that prices will now begin to level off, and may even drop, depending on May and June sales results.

If you have any thoughts or comments, please let us know.  We are here to help.