Are you looking to buy or sell a home in Southern New Hampshire or Northern Massachusetts? If so, you may be wondering what the real estate market is like in the area. Well, you’re in luck because we have the Official SellYourHouseWithSteph.com UPSIDE/DOWNSIDE REPORT for March 2023 right here.
According to Stephanie Saunders, a real estate agent with the Key Team at Compass Real Estate, the market is currently experiencing some changes. Days on the market are increasing as higher interest rates have slowed down the rush of buyers who still need to make a move. Buyer’s want to feel like they are getting a good deal after years of aggressive bidding wars and seller’s holding all the cards. However, with interest rates ticking up, up, up each day with no sign of slowing anytime soon, they still feel like they are getting the short end of the stick.
But what does this mean for buyers and sellers in Southern NH & Northern MA? Let’s take a closer look.
UPSIDE/DOWNSIDE FOR BUYERS
The upside for buyers in the current market is that there is less competition. With fewer buyers in the market, you may have an easier time finding a home that meets your needs without having to deal with as many competing offers. However, the downside for buyers is that monthly mortgage affordability may become an issue as interest rates continue to rise.
UPSIDE/DOWNSIDE FOR SELLERS
The upside for sellers is that homes still appreciated upwards of 9% in 2022, meaning that even with a softening market, home equity appreciation is still robust and usable to parlay into a new home or investment purchase. However, the downside for sellers is that pricing is more important than ever, and there may be concessions or inspections required from buyers when multiple offers are not on the table. In other words, it’s essential to price your home correctly from the start.
DAYS ON MARKET MATTER MORE THAN EVER
According to Stephanie, days on the market matters more than ever in the current market. Buyers and agents are watching from the sidelines, ready to pounce on a deal. So, it’s crucial to price your home correctly and work with a knowledgeable real estate agent who can help you navigate the market and sell your home as quickly as possible.
If you’re looking to buy or sell a home in Southern New Hampshire, now is the time to act. With interest rates on the rise and days on the market increasing, it’s essential to work with a qualified real estate agent like Stephanie Saunders to ensure that you get the best possible deal. For more information, visit www.sellyourhousewithsteph.com today.
