I recently picked up a few new buyers, none of which are looking for an overly unique property. Finding their ideal home has proven to be quite the challenge. What they are looking for just isn’t out there. It’s left me scratching my head, wondering how soon “the” house will show itself in the system.
Last night I ran a search for one of these buyers. They are looking for a 3-bedroom, 2-bath ranch home in four different communities. In their price point, only seven homes came up, and one of those has an accepted offer.
Searching for another buyer, who is looking for an older home with the character and charm we don’t typically see in newer construction, I found no homes that met their criteria. Not even close. And this is in a community that typically has several to choose from.
So what’s going on? Where have all the houses gone?
The Ozaukee county real estate market and Washington county real estate market are making a comeback. You’ve heard it before — interest rates are still below 4%, and buyers are feeling more confident, resulting in more homes being sold, an increase in prices in some areas, and fewer days on the market.
For sellers who have been toying with the idea of selling, this may be the time. The buyers are out there. For buyers who have been thinking about buying, be ready to move quickly and be prepared to make your best offer out of the gate.
This faster-paced market is an adjustment for everyone — sellers, buyers, and agents alike.