🏠 Welcome to our "Friday Pulse Check: Your Weekend Market Vitals" 🏠
Here's the latest market data from RLAH @properties to give you crucial insights ahead of the weekend:
📊 Market Pulse: August 21 - August 28 📊
🔢 Average Number of Offers: 1.0 per listing (down from 1.7 last week). 10% of new contracts had multiple offers (down from 50%).
💰 Offer Prices:
Above List: 20% (down from 60%)
At List: 40% (up from 30%)
Below List: 40% (up from 10%)
🔍 Inspection Trends:
No Inspection: 60% (unchanged)
Full Inspection: 30% (up from 20%)
Pass/Fail: 10% (unchanged)
Pre-Inspection: 0% (down from 10%)
🌡️ This week's data shows a noticeable slowdown in market activity, likely due to the approaching Labor Day weekend. Many potential buyers and sellers are probably focused on end-of-summer travel plans, leading to a temporary lull in the market.
🏖️ We're seeing a decrease in the average number of offers and a shift in pricing strategies, which is typical for this time of year. The unchanged rate of no-inspection offers suggests that serious buyers are still active in the market.
📈 While the numbers might seem dramatic compared to last week, it's important to view this in the context of seasonal patterns. We anticipate market activity to pick up after Labor Day as people return from vacations and refocus on their real estate goals.
🍂 As we move into the fall market, we expect to see a resurgence in activity. Historically, autumn can be a busy time for real estate as people settle back into their routines and look to make moves before the holiday season.
If you have any questions about how these trends might impact your real estate plans, don't hesitate to reach out. We're here to help you navigate the market, regardless of seasonal fluctuations.
📅 Stay tuned for a more detailed analysis in Monday's full Market Report, where we'll dive deeper into these trends and what they mean for the post-Labor Day market.
Friday Pulse Check