A Strong Start to the First Quarter
This year's market activity is off to a strong start... perhaps even stronger than we'd expected. In the first 8 weeks of 2023, we've seen properties moving off the market quickly and, with inventory still limited relative to demand, that's keeping prices elevated and keeping the pressure on buyers.
Even though the market has tapered since peak post-pandemic trends, we're seeing a return to seasonality that drives market activity during certain periods of the year. And the first quarter is historically one of our strongest periods because our warm weather climate attracts even more visitors and residents during the winter months.
The best advice for buyers right now is to act decisively. The risk of waiting until the end of the quarter is that the most desirable inventory will have been bought up already and, with seasonal patterns driving the market again, we won't expect prime inventory to re-emerge until much later in the year. To create an advantage in buying, you must be prepared with insight about your preferred neighborhoods and home features, knowing your tolerance for renovation or modification, and - of course - having your financial documents ready.
Let us know if you would like a private consultation about current market dynamics.
