The State of The Market

In November 2022, the real estate market saw some interesting trends. 26% of sales were completed with cash, 23% of properties sold above list price, and homes on the market averaged 2.3 offers.

While many predicted that the market may have shifted in 2023, it appears that these trends are still present. Cash offers, properties selling above list price, and multiple offers on properties are still common occurrences.

However, there is a slight increase in the “days on market,” or the time properties are on the market. This could potentially give buyers more leverage in negotiations, such as getting credit toward closing costs or a price reduction.

It is important to remember that every property is different and the real estate market varies depending on location. Therefore, it is important to research and understand the local market conditions before making any decisions to buy or sell.

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