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In this episode, Geeta, Nick, and Rajiv discuss the July 2023 market stats, including the increase in average price points from last year and the impact of interest rates on the market. They also explore sales activity and inventory on the market, as well as specific neighborhoods and the opportunities for upgrading and pre-construction investments. The hosts caution that while the market is slowly moving towards a balanced state, it's important to speak to professionals to better understand specific neighborhoods and make smart decisions. Tune in to TR Talks for the latest news and insights on the real estate market.
Shownotes
- Average Price Point (00:01:15)
- Increase in average price point from last year
- Importance of considering previous months' data
- Market Progression (00:01:50)
- Comparison of average price point from May, June, and July
- Impact of interest rates on market
- Sales Activity (00:03:25)
- Increase in sales activity from last year
- Comparison of sales activity from May, June, and July
- Inventory on Market (00:06:35)
- Roughly three months inventory available
- Slowly moving towards balanced market
- Specific Neighborhoods (00:08:35)
- Importance of speaking to professionals for better understanding of specific neighborhoods
- Upgrading (00:11:50)
- Great time to upgrade due to balanced market
- Pre Construction (00:14:15)
- Pre construction as a great investment tool
- Increased confidence and comfort for seasoned investors
- Hesitation from First Time Investors (00:15:00)
- Hesitation from first time investors compared to seasoned investors
Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
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