Market Updates February 14, 2023

How much equity do I have in my home?

Fall of 2022 was the height for interest rates, hitting 7% and slowing down the market.  Properties sat on the market and then loan offers like the 2-1 buydown were introduced.

Enter into 2023.  Rates have dropped!  Mortgage applications have increased.  Buyer demand is heating back up and our spring market is about to take off.  Our coastal market is seasonal and we are about to enter the height of sales for our year.  With all the negative headlines one may think our market is headed for a crash.  The fact is Baldwin County is one of the fastest growing counties in the country!  Demand is high for our location therefore do not expect to see prices fall.  In fact our year over year report presented a 15% increase in the average sales price.

If you’re considering selling this year, you may want to speed up your timing if possible.  If you’re considering buying a home this year, get connected with a local lender before jumping into the competition.

Check out your estimated home’s value and let’s connect to discuss your specific situation.

https://susan.gulfshoresrealestatesearch.com/home-valuation/

Pierce & Susan Kaylor | 251.269.5250 | kaylorteam@gmail.com