Active
Volume: 24 (0)
Low: $1,495,000 (0)
High: $12,500,000 (0)
Average: $3,202,657.88 (-1%)
Median: $2,547,495.00 (0)
Under Contract
Volume: 3 (0)
Low: $1,699,000 (0)
High: $2,950,000 (0)
Average: $2,481,333.33 (0)
Median: $2,795,000 (0)
Pending
Volume: 0
Low: 0
High: 0
Average: 0
Median: 0
Sold
Volume: 3 (+50%)
Low: $1,450,000 (0)
High: $2,000,000 (+25%)
Average: $1,683,333.33 (+10%)
Median: $1,600,000 (+4.9%)
Average % Difference between List Price and Purchase Price: -6.8% (-13%)
It's not necessarily surprising that there wouldn't be any properties in the pending position right now with such great uncertainty in the election, uncertainty about rate hikes and the all time high of the NASDAQ recently. I think what we're seeing is people working to batten down the hatches and prepare for what is to come next.
It becomes especially apparent when you look at the residential income market, which hasn't changed much at all in a week. There is a new property that seems like a decent opportunity and to see it sit is unexpected in a behaviorally healthy marketplace. However, in a threat of a literal or metaphorical storm, we're seeing people unwilling to take the financial risks of investing in real estate.
I foresee that the residential income market, in particular, will lay low until after the new year. I'd expect to see people wait for the election as well as to hear/see what the expected new policies are as well as how these policies might impact the future of the marketplace. Nonetheless, might be a time to get aggressive for those who are comfortable taking some risks. Stay tuned.....
Volume: 24 (0)
Low: $1,495,000 (0)
High: $12,500,000 (0)
Average: $3,202,657.88 (-1%)
Median: $2,547,495.00 (0)
Under Contract
Volume: 3 (0)
Low: $1,699,000 (0)
High: $2,950,000 (0)
Average: $2,481,333.33 (0)
Median: $2,795,000 (0)
Pending
Volume: 0
Low: 0
High: 0
Average: 0
Median: 0
Sold
Volume: 3 (+50%)
Low: $1,450,000 (0)
High: $2,000,000 (+25%)
Average: $1,683,333.33 (+10%)
Median: $1,600,000 (+4.9%)
Average % Difference between List Price and Purchase Price: -6.8% (-13%)
It's not necessarily surprising that there wouldn't be any properties in the pending position right now with such great uncertainty in the election, uncertainty about rate hikes and the all time high of the NASDAQ recently. I think what we're seeing is people working to batten down the hatches and prepare for what is to come next.
It becomes especially apparent when you look at the residential income market, which hasn't changed much at all in a week. There is a new property that seems like a decent opportunity and to see it sit is unexpected in a behaviorally healthy marketplace. However, in a threat of a literal or metaphorical storm, we're seeing people unwilling to take the financial risks of investing in real estate.
I foresee that the residential income market, in particular, will lay low until after the new year. I'd expect to see people wait for the election as well as to hear/see what the expected new policies are as well as how these policies might impact the future of the marketplace. Nonetheless, might be a time to get aggressive for those who are comfortable taking some risks. Stay tuned.....
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