GLEN PARK REAL ESTATE–August recap

We made it past Labor Day and are jumping into the fall selling market!

How is the market you ask? Well, much as it was. It’s really far too early to tell what the fall market will bring us. Stagers and painters are getting booked out as usual for this time of year. The current inventory is just as low as I reported in my last post. What will really be the true test is how much the inventory goes up by the end of October and how quickly that inventory is absorbed. The good news is that I see 50 (only one for Glen Park) single family “Coming Soon” listings in the MLS. These are listings that are not currently viewable to the public, but they are viewable to agents.

For all of those people who are shut out of the property buying market, the rental market is also a complete frenzy. I have never heard so many stories of rentals being bid up way over the offered monthly. I’ve heard of large numbers of applicants and a tight market, but this kind of overbidding in the rental market is a new phenomenon. It’s wild.

The condo market has definitely perked up again and though still much less crazy than the single family market, I know some condo owners are breathing a sigh of relief after being underwater for a while. Days on market as of the end of August were down to 18 from 51 at the end of last August! Even though inventory is down about 35%, the actual sales of condos are up by 13% (There goes that absorption!)

I was so excited to have a reader reach out to me after my posting last month to talk about Home Exchange and I hope she will be enjoying some home exchanging of her own soon! Please don’t hesitate to reach out with questions about anything. I’m always happy to talk to Glen Park readers!

Now, for the Glen Park Transactions/Listings for the month of August

Here’s a look at what sold in the month of August–