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Today I'll be continuing with a market update, as well as answering some good questions about the market.
Overall, we're seeing a very balanced market right now. We have roughly six months of supply on the market, and this means that buyers and sellers have equally good chances of getting a good deal on a home.
A lot of our listings are selling in 2-8 weeks, and there is a large selection of homes to choose from. On top of this, mortgage rates are still sitting below 4%, so now is a great time to buy.
Sellers will be glad to hear that home prices are rising, and they are predicted to increase over the next year. If you're buying a home, you have an opportunity to ride a nice wave of appreciation.
If you'd like to sell now, you're going to see less competition right now than you would in the early spring. You'll probably find a lot more serious buyers right now than you would during the spring.
The rental market in St. Cloud is also going strong, and so if you would like to invest in rental properties, please don't hesitate to contact me. This is a great way to come up with some passive income for your retirement, or just to put some extra cash in your pocket.
As always, please don't hesitate to contact me about real estate in St. Cloud!
