This week: a market update

As soon as August hit, showings started escalating in all price ranges. A brief lull the last week of the month then last week offers started flying in. I received 3 offers on one listing and through a multiple counter offer, went over the asking price.

Price range: under $200k inventory is what is really moving. I have a buyer under $200k and her choices are drying up quickly. I am losing one renter to a home purchase. Buyers in the lower ranges are feeling the need to lock something up if they are first time home buyers. They need to close no later than December 1. Between FHA and Rural Development, there are good programs out there for 0 to very little down payment.

I expect Sept/Oct to be much hotter. Traditionally these months were always strong but the last 2 years proved it is anyone's guess right now.

Don't wait too long if you are a buyer, the tables will turn and it won't be a buyer's market at some point.