May 2023 Market Update
Price Per Square Foot is at June 2022 Levels, and That's Good News for Sellers
With seemingly fewer buyers in the market, sellers will be relieved to see that prices are escalating back to June 2022 levels (when the market was at a peak).
Days on Market Drops Only Slightly
The seasonal "heating up" of the real estate market seems to be kicking off. With prices back to June 2022 levels, the increase in Days on Market from a year ago is likely due to increased interest rates and high insurance premiums. Thusly, fewer buyers are in the market.
There are More Homes For Sale in 2023
More inventory means more choices with fewer bidding wars. Are there hurdles for a buyer? Yes. Are there advantages to this market as opposed to the last two years? You bet! Reach out to me TODAY, and find out what your options are. #BetterCallStall
Chuck Stall is a licensed REALTOR® WITH GNO REALTY
Broker: David Claus - Licensed in Louisiana
3225 Danny Park, Suite 202
Metairie, LA 70002 (504) 338-1144
www.GNORealty.com