RIS Media asks how the real estate market has changed in the last 6 months. The Southeast speaks up.
By The Bay, Fairhope, Alabama:
“We still have excellent appreciation. We’re a bedroom community of Mobile, Alabama; we’re on the Eastern Shore…in general, things are very good.” (J.N. RE/MAX)
Buford, Georgia:
“Our market (in the Atlanta area) has softened some. We’re in new home sales so we’re still doing well. Despite the softened market, we’re actually doing better than we anticipated.” (S.B., independent)
Roanoke, Virginia:
“In Roanoke, we’re seeing softening. There are price reductions, but nothing drastic. However, our inventory is low.” (D.C., Long & Foster Realtors)
Inverness, Florida:
“In Inverness, we’ve slowed from the boom. Things just sort of stopped a few months ago, but now seem to be coming back.” (T.M., independent)
So, how’s business in YOUR neck of the woods?
Business in St. Paul has changed. We have more homes on the market because they are staying on the market longer because there are not as many buyers. In July things picked up a bit. Prices are up from last year. The condo market in downtown St. Paul is slow because we have a lot of new construction and condo conversion projects all on the market at the same time. There are some great bargins and some builders are throwing in a years association dues, or seller paid closing costs, or big screen T.V’s and some free or discounted upgrades. If you ask me this is a great time to buy a condo, townhouse or loft.
Thanks Teresa for the update in St. Paul.