Hughes Landing Market Report March 2025

Across the board, inventory remains a bit slim but it is slightly improving. Mortgage rates have have several consecutive weeks of slightly lower averages each week. Average days on market have were a little higher in most places in February than this same time last year and the number of closed sales was also down just slightly.

We are now on the verge of beginning what has traditionally been known as peak season in real estate. I would encourage buyers to go ahead and get moving while they still have more stable ground in terms of selection and negotiating power. Perhaps things will stay pretty steady in the next few months, but in the event that we see a stereotypical spike in real estate activity, you'll likely wish you hadn't waited those few months to make a move.

Sellers: Recognizing that sales often slow down before Spring provides a great chance to make your property stand out through careful preparation, strategic positioning, and competitive pricing. With fewer sales occurring, it's essential to implement a sharp and effective marketing approach. By doing this, your property can attract attention as a top choice for the buyers who are actively searching. If your home has already been on the market for a while, consider reviewing your home's presentation and making strategic adjustments to outshine the competition and be among the properties that sell in March!

Buyers: As we approach the summer selling season, now is the perfect time to get ahead of the influx of competing buyers. If sellers have had their properties on the market for some time without receiving the desired showings and offers, you likely have a strong opportunity to negotiate more favorable terms for your home purchase. As more buyers enter the market and sellers see increased interest, your negotiating power may decrease. So, don't hesitate! Waiting could mean missing out on securing the best deal.

Experts in finance, economics, mortgages, and real estate are predicting that interest rates will not go down much this year. We are not expecting to see numbers in the 5% range even by the end of the year. Home prices will continue to rise though and you are likely to face tougher competition in the months ahead, so please consider the cost of waiting to buy later.

I'm always ready to be a resource and I'd love to partner with you (or your friends and family!) as you prepare for your next real estate move!

Best wishes to you and yours!