Welcome to the Weekend Market Pulse! If you're short on time, catch our TL/DR video summary. Otherwise, let's explore the latest market data from RLAH @properties.
📊 Market Pulse: October 16 - October 23
* Average Number of Offers: 2.0 (Down from last week's 2.4, though 67% of new contracts received multiple offers, up from 58%)
Offer Prices:
* Above List: 58% (unchanged)
* At List: 17% (down from 21%)
* Below List: 25% (up from 21%)
Inspection Trends:
* No Inspection: 33% (up from 15%)
* Full Inspection: 42% (up from 32%)
* Pass/Fail: 17% (up from 16%)
* Pre-Inspection: 8% (down from 37%)
🌡️ Market Analysis: Buyer behavior shifted this week, particularly in offer patterns and inspection choices.
* Buyer Activity: While the average offers per property dropped to 2.0 from 2.4, more properties (67% vs last week's 58%) received multiple offers, showing concentrated competition in key market segments.
* Pricing and Offers: Above-list offers held steady at 58%, but below-list offers rose to 25%, suggesting more buyers are testing seller flexibility on price. This mix of aggressive and conservative pricing strategies further highlights the market segmentation we've been discussing.
* Inspection Trends: Full inspections increased to 42% as pre-inspections fell to 8%. Despite strong competition, buyers are prioritizing thorough property evaluation. Meanwhile, no-inspection offers rose to 33%, another clear indicator of our segmented market.
* Market Segmentation: For detailed neighborhood breakdowns and price point analysis, check out the full Market Monday report or reach out to me directly.
📈 Market Implications:
* For Buyers: Competition persists, with multiple offers on 67% of properties. Consider your inspection strategy carefully, and note the growing success of below-list offers in some areas.
* For Sellers: Multiple offers continue, but buyers are showing more caution. Competitive pricing remains key to attracting strong offers.
📅 Looking Ahead: Markets continue to evolve weekly. For neighborhood-specific analysis, see our full Market Monday report. Questions? Reach out: 301-564-3058 or Corey@FeldmanGroupRe.com
