August Real Estate Market Report

The end of the summer has seen the real estate market in Northumberland starting to track back towards a more normal pattern.

As is typical of this time of year, we’ve seen the number of homes offered for sale start to decline. It’s a bit later than normal, but really good none the less. As we move into the fall we should see inventories continue to decline. There are various ways this trend could be explained, children back to school, so some folks who had tried to sell over the summer have withdrawn and will wait till next year. It could be that some of the older folks who were trying to sell their homes but were not successful have stopped for now so they can travel south for the winter. And there is that part of the population that simply doesn’t want to move when there snow on the ground.

For whatever reason, we see marginally less homes on the real estate market at the end of August 2011.

While at the same time we see a modest increase in house sales over the same time period.

This is all very positive, however, it is important to note that at the end of the day, the story is very much like it has been all year.

Homes are selling, but very few, and with all the choices buyers have coupled with the market knowledge they have access to, a seller needs to be very aware sale prices and actual home values if they are going to be successful. Positioning in this real estate market place is critical. It’s not necessary to be the lowest priced home, but no one is paying a premium either.

That’s where a professional realtor is so important, knowing the historic prices and current trends to be able to give the best advice.

Let me know how I can help !!!

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