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2017 Winter / Spring Market Update

Thursday, March 30, 2017   /   by Brad Miklovich

2017 Winter / Spring Market Update

Wow what a winter market we have seen. It seems that this has happened now for the past 3 years, the 1st day of January the real estate market just takes off. 2017 has started the same way, inventory has been very tight and prices having been climbing, with many homes going into multiples within the first week. Our buyer are finding themselves making very strong offers to win homes. Like I mentioned this is nothing new, we have now seen this every year since 2014. The big question in my mind is will it continue into the summer? In most years the winter and early spring market sees homes sell very quick and for top $, then once the nice weather sets in inventory finally finds it way to the market just in time for the buyers kids to get out of school and everyone leave for vacation, leaving homes to sit on the market and sell for lower prices. 

At this point on the last day of March I do not see a slowdown in site, we have backlogs of buyers who continue to look for the right house. The stress for these buyer is interest rates! The fed has already raised the Fed Funds rate once, and the rate in which you borrow for a 30 year mortgage has not moved much, we continue to hover around 4%. This is a great thing for people still looking. It was last fall when we had thought the market may have topped out and we were set for a sideways balanced market, it seems the election and the stock market have bought us more time. Being in North Eastern Ohio where we continue to see jobs being created keeps us somewhat insulated as well. 

The bottom line to this quarters real estate market update is, things are good! Very Good! If you are thinking about selling, wow now is the time, prices are great, days on the market are low, and buyers are looking. If you are thinking about a home purchase, rates are low, there can still be deals to be had, and our team carries alot of listings that can be seen but are not on the market. If you are thinking about that next purchase, sale or investment, contact us today. 216-287-6357
Keller Williams Chervenic Realty
3589 Darrow Road
Stow, OH 44224

The listing information herein is provided through the MLS IDX database. Information is deemed reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of NEOHREX.
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