Is Now a Good Time to Buy?
If I had a dime for every time someone asked me this question, I would be rich. The truth of the matter is that a good time to buy is when you find a home you want to purchase and you can afford to purchase it. No one know the future, so it’s nearly impossible to predict future interest rates and home prices so the best time to act is when it’s feasible for you. On Mondays lots of agents like to do a “Market Monday’ which is definitely helpful to people who want to know what is going on in the market; however, its equally important to include and focus on local markets. While one area may be adjusting prices to compensate for a cold market, another may have an influx of transplant families and have a steady or hot market. Financial experts have strong sense of the general market but you need to speak to a local realtor and loan officer to get a grasp of the local market.
Here’s a look at the Baldwin County Alabama markt. For Traditional Residential properties in Baldwin County (everything else in Baldwin County not included in the Resort market areas), a total of 278 sold last month, compared to 430 in January 2022. Listings in this area stayed on market longer than the year prior, with this month’s 52 days being an all-time high since February 2021’s 56 days. Average sales price saw a slight increase in year-over-year comparison, but it sits slightly lower than our most recent monthly reports. Traditional average sales price for January 2023 was $369,745 which is an increase from January 2022 of 6%.
At the end of the day seek advice from your local experts. If you are in Baldwin County AL I would love to be that expert.
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