Welcome to the Weekend Market Pulse - Short on time watch the TL/DR video!
The slight bump in activity we've been anticipating appears to be materializing. However, with Thanksgiving just five days away, parts of this week may be quieter as many buyers and sellers focus on travel and holiday plans. Most of my family left for Florida this morning, but I stayed back with my oldest, who's busy with college applications and other commitments.
📊 Market Snapshot The market shows positive momentum this week, likely bolstered by limited inventory. But ongoing challenges from mortgage rates are likely contributing to market segmentation.
Key Metrics:
Average Offers per Property: 1.4 (↑ from 1.0 last week)
Properties with Multiple Offers: 57% (↑ from 23%)
Offer Distribution:
Above List Price: 71%
At List Price: 29%
Inspection Approaches:
No Inspection: 29%
Pre-Inspection: 29%
Pass/Fail Inspection: 29%
Full Inspection: 13%
🌡️ Market Analysis This week's data shows a notable uptick in competitive activity. While rising mortgage rates remain a market factor, limited inventory appears to be driving increased buyer competition.
Competitive Landscape: The jump in multiple offers (from 23% to 57%) signals strong demand for well-positioned properties. While overall buyer numbers appear reduced, those in the market are competing aggressively, with 71% of offers exceeding list price.
Buyer Strategies: The even distribution across inspection types (29% each for no inspection, pre-inspection, and pass/fail, with 13% full inspections) appears to reflect market segmentation. Different property types and price points are likely driving these varied approaches.
📈 What This Means For You
Buyers: Competition remains strong in desirable segments. Success requires strategic offers and thorough market understanding. However, this could be an opportune time to consider properties that have been on the market longer, as we're entering a period where sellers historically become more likely to accept their lowest offers.
Sellers: Limited inventory continues working in your favor. However, with fewer buyers in the market and rising mortgage rates, precise pricing is critical. Strategic pricing and proper positioning are key to maximizing results.
📅 Looking Ahead The market continues to balance two key forces:
Limited inventory driving competition
Rising mortgage rates affecting affordability
Want More Detail? For neighborhood-specific insights or personalized analysis:
Call: 301-564-3058
Email: Corey@FeldmanGroupRe.com
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