By Beth McGeorge, RE/MAX Jefferson City, REALTOR®
I must get asked ten times a day, “what’s the market like right now?”
The truth is demand remains high and the market is HOT! In the last 12 months, I have experienced more bidding wars on listings than my previous 15 years in the business combined! It seems like our specialty these days! However, the need to price your home accordingly remains a key element in proper marketing, as any home sitting on the market for long is “market worn” faster than ever before. It’s more important than ever to get it right the first time!
The reason for this market boom is created by a combination of low inventory, historically low interest rates and a delayed spring market boom. The stay at home order named real estate as an essential industry, and families were able to buy and sell real estate. However, many found themselves suddenly homeschooling kids or working from home, and for many, the best decision was to hit the “pause” button on selling/buying. For some, the “shelter in place order” created even more urgency in their need to find a home! Now that many activities have resumed, and many are working inside the workplace again, it seems business as usual for our summer real estate market with the addition of pent up demand from spring’s “pause” button.
Bottom line is that there is a “new normal” for all industries among Mid-Missouri. Business owners have all had to pivot and adjust quickly to many changes. REALTORS® have worked hard to ensure that the families that need to buy or sell a home have the right to safely do so! If you want to buy a home, we are here to answer any questions you have regarding your specific situation. If you are a seller, we will tailor our marketing approach to align exactly to your goals in selling your home.