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A lot of people have been asking me whether we're in a seller's market or a buyer's market. The truth here is that we're in a rather balanced marketplace in Southwest Riverside County. We don't have too much supply or too much demand.
With this being said, there are some hotbeds of activity in the area. In the lower price ranges, it's generally a seller's market. We have a lot of first time buyers who are looking to purchase, and that's driving up demand.
So, what does this mean for you?
Home values are currently rising, which is good for buyers and sellers. You're going to have more competition if you're selling in the lower price brackets, but you can probably get more money for your home. An extra word of advice is that home buyers want homes that are clean and move-in ready. If your home is in good condition and priced well, it should sell without too much difficulty.
Also, interest rates have risen slightly, and are expected to continue rising. This means if you're thinking of buying, you should do so soon. The longer you wait, the more your affordability will drop.
If you have any questions about our local real estate market, please don't hesitate to contact me!
