Homes priced at $500,000 that are well priced and show well with upgrades to the home are selling in 4 days or less with mutiple buyers. It's only April so this trend will likely get worse as the peak buying months are May and June. Many first time home buyers will have to make offers on several homes before they snag one.
As long as interest rates remain stable the present home buying "Freezy" should continue to the end
of the summer. Also prices will likely rise 3% over the next several months.
RE/MAX Realty Group
Your best answer is that it depends on the price point. Higher and lower brackets will offer a different market condition. As a home buyer you are in luck, the prices in all brackets have dipped to the extent that more buyers are out at all price points. If you are looking for a good buy, consider this. The price has dropped over 30K and surely will be a good opportunity for many. Check it out -http://goo.gl/vux6R
RE/MAX Reatly Group
Want an appointment - call 301-502-5027
Market conditions depend on quite a few factors and what you are looking for with a specific market. For example, there are numerous first time buyers and investors competing for properties in the $250K range and under, many first time and down-sizing buyers in the middle range, less in the upper brackets.
Give me a call and we can discuss your particular situation and I can give you a better feel for it. The market in general right now is rocking and you need to have an assertive agent behind you!
Long & Foster