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Supply up 11% since August, Down 12% from 2016
For Buyers:
The 4th quarter is a good time to be a buyer seasonally. After April or May, buyer activity gradually declines every month with the 4th quarter seeing the lowest level of contracts in escrow. This is typical within all price ranges. Meanwhile, supply levels tend to rally in October with new listings after becoming stale over summer months. This provides the remaining buyers with more listing s to choose from fewer competing for offers. A welcome relief for many, however, this seasonal lull doesn't mean buyers will win with low offers. For most buyers, this environment only provides fewer competing offers on their preferred properties. It doesn't necessarily mean they'll get a bargain.
Commentary written by Tamboer, Senior Real Estate Analyst with the Cromford Report.
(copyright symbol)2017 Cromford Associates LLC and Tamboer Consulting LLC
