As we approach March, we are hoping that we have seen the worst of the winter weather. The snow storms have definitely put a damper on the market. Buyers simply haven’t been interested in braving the storms and sellers have been challenged with keep their homes accessible.
Ice damming and interior damage have forced some homeowners to withdraw from the market to do repairs. However, in the past week, we are seeing a renewed energy and interest in the market with buyers who appear to be movtivated to buy well-valued homes. They still have the leverage, however, because of the weather we have not seen the influx of saleable listing that we normally see in our early “spring market.”
We are seeing some of the listings that have been picked over, are being revisited by buyers. However, as fresh inventory comes on the market, overpriced, and/or poorly-conditioned properties will continue to lanquish. In typical fashion, rentals are gearing up and relocating employees are starting to scour the area.
It will be interesting to see what happens in the next few weeks with new listings and how buyers react. I will post our January and February 2010 and 2011 numbers. Let's see how the weather has impacted our market.