May Market Update

April new listings and sales were again at record levels.  It was a busy month for myself and everyone in my office.  Even though sales were very strong, there’s still a great inventory of homes on the market.  Buyers seem to be increasingly looking for homes that are in “move-in condition.”  Sellers looking for a quick offer should take time to evaluate the layout of furniture or “flow” of each room and consider carefully whether replacing carpet, painting walls, updating lights and window treatments may provide a favorable return on investment at time of sale.

Interest rates have jumped since last month’s lows and are currently around 6.25%.  Most economists and loan officers feel that the lowest interest rates our behind us and that rates will continue to slowly climb throughout the rest of the year.  It still looks like a great year for both Buyers and Sellers!