Everyday I am asked "How's the market? Are prices going up or down" and therefore this makes for a good topic for today's entry. Everyone can read the paper or watch a financial news shows so I am not going to  be giving numbers. Instead I am going to tell you what I see when I sell properties.

Like always, when a house is priced right, it will sell quickly. While we havn't seen prices go up 25% in the past year, the prices still remain strong with more slight and moderate increases. When people expect that rapid rate of increase when selling their home, they run into trouble. In essence they price their home "ahead of the market" and then stays on the market for a long time. A home becomes less attractive the longer it is listed. People may think that there is something wrong with it and buyer's agents will show other homes that are of better value

In a nutshell the market is doing very well. It's not unbelievable like it was eighteen months ago but most homes will sell if marketed well and priced right. The opinion of most of my colleagues, many economists and myself is that the local market will remain strong for at least the next few years.

If you would llike more detailed information, give me a call and I'll be happy to send you a market activity report.