I’m going to let you in on a little secret.
The market has slowed down in much of the Bluegrass. I don’t mean that it is dangerously slow or anything. It is still a hot market with too few houses for sale. It just isn’t the crazy frenzy it was earlier this year. That is to be expected since it does slow down a little after school starts, then a little more the closer you get to Thanksgiving, then a little more the closer you get to Christmas.
In Fayette County, sales are down 6% when comparing August 2016 to August 2017.
I put two new listings on the market last week. I try to put my listings on late Friday afternoon so we get lots of showings on Saturday. That way everybody is off work and they can all see each other come and go from the house….it makes it feel more like an auction.
I knew it had slowed down some, so I was expecting only 4-5 showings at each house, and probably at least two offers on each.
House A did not get any showings the first day on the market and only one showing was scheduled for the second day on the market.
House B had only one showing scheduled the first day on the market.
Fortunately both sold to the first buyers who saw them, but I imagine they and their agents would be surprised to know this.
Both houses were priced right, presented well and in the most popular price range.
I sold another house this week too. This time I was working with a buyer. We saw a very affordable house the very first day it was on the market. Throughout most of this year, I have shown a house and had another agent showing it before and/or after my showing. Sometimes there has been a line, prompting me to consider a side hustle of selling snacks and drinks while I am there waiting. I was at this house for an hour. No agent was there before me. No agent was waiting for me to leave.
I am noticing home inspectors have been able to get to jobs in fewer days too.
When I scroll through the pending sales every day, I am seeing fewer and fewer 1 day on the market sales. Most are still selling in less than a couple weeks, but that is a big change from earlier this year when almost every house sold the first day.
All of this makes me think it is a great time to buy. Probably the best time all year.