Real Estate Market Update: Central KY Area

It is a difficult time for buyers in real estate.  It has been what our industry calls a “seller’s market” for quite some time now.  Since Coronavirus hit, there have been fewer options for buyers to choose from.  Homes that have been listed and sat longer on the market are even selling now due to the limited inventory available.

If you have been thinking about selling, it is now may be the right time for you!  It is important to do so strategically, though.  Talk with one of our dedicated REALTORS® to see if selling is the right step for you to take.  You can browse through more information on selling here.

Franklin County June Housing Statistics

It is still a seller’s market in our neck of the woods in Franklin County.  Prices are inflated and even homes that were sitting on the market long are selling now due to the limited inventory and options for buyers.  If you were thinking about selling…now is the time!  Check out my page for sellers […]

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A Must-Read Guide on How to Sell Your House

A Must-Read Guide On How To Sell Your House Selling your first house is a big deal. Learn how to sell a house and navigate the process, from setting a price to closing the deal. Read Visit houselogic.com for more articles like this. © Copyright 2020 NATIONAL ASSOCIATION OF REALTORS® You can also check out […]

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Real Estate Market Update

woman showing chart

With everything that is going on, you might be wondering how the housing market is being impacted.  It is a good question to have, especially if you are thinking about selling or buying real estate any time soon.  So, as you might assume–folks have slowed down their desire to buy or sell due to COVID-19. According to Lawrence Yun, National Association of REALTORS® Chief Economist, “In the latest flash survey, 11% of REALTORS® indicated a reduction in buyer traffic and 7% are reporting lower seller traffic when asked directly about the coronavirus impact on the market.”

Looking back before the outbreak occurred, it was widely a seller’s market.  This means that demand for houses is higher than the supply of houses available–which leads to higher prices for the sellers’ properties and not as much room for negotiation for the buyers (there are a number of other factors, but this is the gist of it).

Fast forward to now when things have slowed down.  It is evident that it is still a seller’s market.  With even less of an increase in the number of homes becoming available, there is even more competition for homes.  Although this is true, it is also important to note that there are fewer buyers–so homes may be sitting longer than anticipated.

Currently, it is essential to remember that there are still players in the market right now–buyers and sellers.  Real estate has not come to a complete halt, and it will not get to that point.  Real estate has been noted as an essential service during this time and those agents that are willing and able to continue working for clients are still doing so.

Looking into the future, I predict that as we continue to “flatten the curve” we will begin to see an increase in homes popping up available on the market and an influx of buyers as well.  You see, this virus is keeping many folks in their homes.  As soon as people begin getting more comfortable, I think the market will boom (for both buyers and sellers) due to the cooped up supply and demand.  Buyers will need to act fast.  Sellers will want to be one of the first on the market when this happens.  People have been waiting, on both sides, and will be ready to go!

If you want to prepare for when the time comes to sell or buy, contact one of our agents today.  Things are happening and people are preparing, do not get left behind!

Give Off the Right Impression From the Front Door

cute front door of a home

Did you know that changing out the home’s front door can be one of the best remodeling projects you can do financially?

It is the first thing people see when they visit.  Make it impactful, from the material and hardware to the color and style.

Need other ideas on how to improve your home?  Ask one of our experienced agents to see what potential home buyer’s are looking for in a home these days.