September 2023 DMV Real Estate Update
Happy September, and happy back to school!
We hope your kiddos, big and small, have had a great start to the new school year. It seems all of the Jennifer Young Homes kids were excited to see friends but not ready for summer to end!
Now, onto your real estate update.
September 2023 DMV Real Estate Market Overview
The real estate market saw its typical late-summer slow down with many people still on vacation before the start of fall. However, our team remained busy, securing great terms for our clients!
On the seller end of things, we are still seeing tremendous activity across price ranges, driven by the historically low number of homes on the market. Recently, our team handled several multiple-offer situations in the low-end price range as well as the mid-range. We are also seeing multiple offers in the high-end price range so long as it’s a beautiful property, priced correctly. Buyers are still seeking a good value on their purchase, so appropriate pricing remains key.
What Buyers Should Know About Interest Rates
As far as buyers are concerned, interest rates have finally settled down from the low 7% range to now just below 7%. While rates are at a 20-year high, this shouldn’t discourage you from achieving your goals. If you sell now, you will be able to capture the equity in your current home, secure your dream home, then refinance when rates go down again, which we’re expecting to see later this year or early next.
In Need of Assistance?
Jennifer Young Homes also offers free, no-strings-attached consultations, so whether you’re buying, selling, or renting, don’t hesitate to reach out!
Check Out the Full Video
Want to learn more about the September 2023 DMV real estate market? We thought as much! Check out the full YouTube video below. And be sure to check out our blog for the most up to date real estate content!
