Timing the Market
As I'm writing this near the very end of August, there are 4 homes and 4 condos for sale in all of Talega. The average Days on Market (DOM) for a Talega property in 2021 is a mere 13 days, which is incredible when compared to 32 DOM in 2020 and 2019's 47 DOM.
Looking back through 2021, low or no inventory has been the story all year. However, in the past 30 days, the overall demand in the market started to soften and showings started to slow compared to one or two months ago. This is common when we reach the end of summer. If you assume demand will continue to soften as school starts, life normalizes and the holidays come our way, we could see a balanced market in 2022.
It appears that interest rates will not slow the pace of this market moving forward, as most are predicting there will be no rise in rates until 2022. If you look at the inventory curve below and assume it will be flat for the rest of the year, we could be more in balance with demand starting in January. Pricing will continue to remain strong, especially in Talega, since we have been playing catch up with our price point compared to other communities.
For more guidance on the best way to prepare and market your home, let Echelberger Group’s professionals help you every step of the way. Doug Echelberger and his team provide the expertise and resources necessary to make it easier for their clients. More than 20 years of experience has given Echelberger Group the edge in local knowledge and connections. Echelberger Group provides a comprehensive range of services, from industry-leading technology—backed by its partnership with Pacific Sotheby’s International Realty—and custom marketing strategies to regular updates and prompt communication that makes transactions efficient and stress-free.
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