The national headlines reflect precisely what's happening in the real estate world here. 

 

  • Inventory is historically low around the country.
  • Mortgage rates are just over 7%.
  • These two factors make it tough on buyers- even tougher on investors where rates are closer to 8%.
  • In July 2023 homes sales were down 16.6% compared to one year ago 2022.

These points are further reflected in the decline of sales volume from year to year in many firms statewide. We are happy report MGS Group is bucking that trend.

Our focused agents have determined buyers who want to move and are willing to do what it takes to get it done. My kind of people! Just look at the number of houses under contract in the steamy, sleepy summer months. It is impressive! Dover's inventory is startling low along with the surrounding towns. This is a market that keeps on chugging along.

Buying now is a strategy worth exploring as experts believe while rates may come down in the next year or so, prices will shoot up when they do.

 

The fall market starts right after Labor Day, and hopefully brings with it an introduction to a robust crop of new listings. This summer girl loves the warm weather, but I also look forward to the energy that autumn brings and the opportunities for new starts, whether it's a fresh real estate market or a new school year. It also helps us get back to routines which is comforting for so many.

 

My family's fall days look different this year, as we dropped our daughter Anna off for her first year at the University of Virginia. I had no idea the impact this has on all of us as she takes this great step toward adulthood. It seems far off as a parent until you are there! I wrote a blog about it and how we got through letting go so she can fly! You may not need it now, but you will someday. Enjoy the balance of summer!! More warm days are ahead.

 

https://www.teriadler.com/blog/who-knew-sending-your-child-college-was-hard/

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.
 
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