How’s the Market?

I am asked this question, more than any other question having to do with real estate.  I love the discussion, but the actual question is so vague, it’s sometimes hard to answer.  Imagine being asked, “how’s life?”.  Each separate area of your life could be in a different place at the same time. (professional, personal, health, social, etc.) That is exactly how the real estate market is as well.

New construction, condos, single family residences, homes under a million dollars, homes over a million dollars, ramblers, large homes, tiny homes, updated homes, fix-er-uppers, homes in urban areas, homes in rural areas (and the list goes on) have widely varied trends in each specific market.  These “micro-markets” are everywhere and I’ll tell you why.

Want to live close to the light-rail because you can get to your tech job downtown without sitting in traffic for hours?  So do a lot of people… Want to live walking distance to award winning schools to give your children that opportunity?  So do a lot of people…  Want to live in the city so you don’t need to have a car to enjoy a robust social life?  So do a lot of people…  Want to have a large yard so you can spread your wings without bumping into someone else’s wings?  So do a lot of people… All of these circumstances and many others form the micro-markets I mentioned above.  It also explains why some homes in a neighborhood will sell so much more quickly and for more than others in the same neighborhood.

I love digging into the data and knowing what is thriving where, there’s so much more to real estate than meets the eye.   Different life situations and demographics call for different needs.  Curious, about a specific type of home or neighborhood, just ask, I’d love to discuss!