Real Estate activity adjusts seasonally. We’re approaching the time of year where the real estate market tends to ease and take a breather. Don’t confuse this breather with the market taking a sudden downswing. The Ames market has historically been very resilient compared to national trends.
Over the last month we saw 35 new listings coming to market and 44 listings sold — at a seasonally adjusted rate. Compared to last year, the number of sold homes in the month of September actually increased. In September of 2021, 40 houses were sold, compared to the 44 this year that were sold.
For sellers, despite the national narrative of a declining real estate market, Ames still has plenty of buyers looking for their home. But understand that if your house doesn’t sell on the first weekend, as was seemingly the norm for the past two years, don’t panic. It’s ok if your house stays on the market for a couple of weeks. Before the pandemic, it was normal for homes to stay on the market for a month or two before they sold.
If you’ve thought about buying but are uneasy about the rising interest rates, we’ve got solutions for you. We have a qualified network of home lenders that can help you find the lowest possible interest rate. Loans like 10-1 Adjustable Rate Mortgages have much lower interest rates and can be refinanced at any time to a 30-year fixed-rate loan if interest rates start to go back down.
Sell or buy a home today, the Friedrich Way! We look forward to serving you.