College-Glen Quarterly Real Estate Update - Q4 2016
Now that the Fourth Quarter of 2016 is finished, here’s a look back at Q4 and comparing it to last quarter and a year ago. This is only for College-Glen (College Greens & Glenbrook) single family homes.
The fall/winter of 2016 market was typical for College-Glen. Some nice homes for sale and some not so nice houses that just sit. Most of the quarter had more buyers than homes available. The ones that showed well and were price right, sold quickly. The ones that were either over priced and/or in poor condition spent much more time on the market. This dynamic is considered a “Price Sensitive Seller’s Market.” Also, interest rates ticking up and the election put some pause on the market.
I expect the “Price Sensitive Sellers Market” to continue in the First Quarter of 2017. The buyers are anxious and waiting to jump on a great new property but not crazy to overpay for a not very desirable home.