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A breath of fresh air for current buyers is we are beginning to see less multiple offer situations, homes sitting on the market longer, the ability to get some seller paid closing costs, and buyer’s being able to request a home inspection in their offers. *Source: Minneapolis Area Realtors
New Construction and homes in the $1 Million Dollar Plus bracket are areas of housing that are doing well. Largely due to the lack of inventory of existing homes and buyers that own homes with larger equity having the ability to move up from their current home.
So what will we see in 2024? The move-in ready and perfectly staged home is going to have a better chance at selling sooner and for a higher price in this market as buyers are able to be picky during their search. Inventory of homes and interest rates will be key factors in 2024 to determine the state of the market.
If you have any questions about the real estate market, I would love the opportunity to be your main resource for all your real estate needs. Please reach out any time with questions.
About the Author: Shannon Sand has been a licensed Realtor for the past 14 years. She has been voted as a Minneapolis/ St. Paul Magazine “Super Real Estate Agent for 7 consecutive years straight. In 2015, she was featured as a guest host on the HGTV Show “Five Day Flip.” Shannon has been a Rockford Resident for the past 14 years with her husband, Aaron. She is a proud Boy Mom of 3 boys (ages 3, 7, and 9) who attend Rockford Schools. She is passionate about her community and volunteers and serves at the local elementary, Nourishing Hope, OFLC Church Council, OFLC Choir, City of Rockford Planning and Zoning, and coaches 4th grade and Kindergarten basketball and soccer.
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