By: Jeremy Litwiller
As we head into the last month of 2013 we are all hopefully excited for the holiday season, time with family and friends, and of course lots of great food. We as realtors here in the Shenandoah Valley also look forward to this time of year for a bit of a respite from the (thankfully) busy year we have had.
November saw a bit of a drop in our pace of closings as compared to previous months, but don’t worry we’re still on the upswing. As is usually the case this time of year, inventory is down a bit but activity still seems to be strong. The number of contracts written during the past month is well ahead of this time last year which is great news. We continue to see a trend toward a more balanced market with days on market decreasing and prices slowly rising.
So what does all of this mean for you as a buyer or seller of a home or property in the Shenandoah Valley? As a seller it means that if you choose to list your home, you will have less competition now as compared to the spring when we generally see a large influx of new listings. As a buyer it means it’s a great time to buy and take advantage of interest rates that are still very good and also get ahead of further price increases we anticipate in the coming year. For the past several years, people have continually said it’s a buyer’s market. It seems we are finally getting back closer to a market that is more balanced for both buyers and sellers which is the most beneficial result for everyone involved.
If you have any questions about any of the information in the market report or want to discuss buying or selling a home or other property, just give us a ring or shoot us a message.