Welcome to spring! And we hope that brings along the spring market. We are seeing a few trends this March. The good news is we have seen a bump in new listings. We have been averaging around 160 new listings a week and that jumped to nearly 260 last week. We hope that trend continues because at just 420 closed sales as of yesterday we are about 25% behind last March in closed sales. Interest rates did jump over 4% which will effect buying power. We have a great chart to help explain the changes to your clients. Send me an email if you would like a copy. Finally, we have seen 64% of homes sell over asking price…if you are considering it, people who offered over asking and whose offers were accepted on average offered 27k over the list price. I hope that helps you and your buyers moving forward. Keep elevating our industry.
David Veldkamp
RE/MAX GR
(616) 460-6123 (Call or text)