This is one of the perhaps the most unique and interesting markets I have ever seen in my 20 plus years in real estate.

When we are advising potential home sellers or even buyers, we might look back at comparable sales prices for the last 90 days as a predictor, or perhaps current values. In some cases, we might look at a similar time frame, but a year back.

Pricing a condominium is pretty straightforward. Sales values are essentially flat and have been for several years. Establishing a price according to last month’s values, won’t be too far off.

Its single-family housing that is more complicated!!!!

Now that the first quarter of the 2023 is almost completed, we can understand the market better. Single family housing is closely tracking values of 2021.

2022 was an anomaly and my best advice would be discard the sales data, at least for the first half of the year.

If you are selling, price your home based on spring 2021 values, and you won’t be far off.

If you are buying, don’t make your offer based on spring 2022 values, or you risk paying far too much.

You can follow the market by reviewing my market reports blog. Here is a handy link: Ambergate Market Reports.

About the author:

You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.

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