Sharing the latest real estate trends and our recent client success story.
Today, we’re talking about the lower, slower market and the success we’re getting for our sellers.
I just took a look at the market statistics for August of 2023 compared to August of 2022. And while I had definitely felt the slower pace this summer, to see those numbers was pretty startling. So, the new listings this year compared to last year were down 20.9%. The active listings were down 40.2%. 40%. That means over a third of our houses actively for sale are not here this year. Our pendings are down 23%.
So, one in four buyers is just not doing anything compared to last year. That said, the sales are not quite as slow. They are down 9.9% August 2023 from August 2022. So the serious buyers are still out there; that’s what I get from that. The serious buyers are still out there, but it is at a cost, a cost of our time and our energy and making sure that we are the ones who are getting out there with our sellers to the clients, to the buyers that are out there in today’s market.
We have a couple that I just adore who decided to make a move out to Idaho. We’ve been in communication for at least a year and a half, if not two, that I can think of. When we did market their house, we were pretty conservative, and they decided to even get a pinch more conservative from that, just enough to make sure that we were in front of the most buyers possible, to make sure that we had the best attraction and the best eyeballs on their house. And it worked. We got them three offers. They were all over the listing price. So, we got even above what they were willing to accept. And we took a look and decided what the strongest offer was for them. It may be surprising to you it was not the highest offer by tens of thousands of dollars.
I think that’s encouraging, not only to know that we are looking out for what the seller says is the strongest offer, but also to buyers to know that they don’t necessarily have to spend every last dime or that if they have smaller pockets than someone else, their offer will still be considered seriously among the rest. So they decided that the strongest offer for them was one that just got rid of all the contingencies, and this buyer did, and that was worth it for them.
So we not only have success when my sellers have moved out of Everett and are heading over to Idaho looking for their new place and able to purchase with their cash in hand and not needing to sell a house over here.
And we also have more information in our pocket as to what is important for my people, what is happening in the market, and how does that relate to you. So the biggest question I have for you is, does your home fit? If not, let’s talk about what would make it fit. And if you need help to change your house, we can help you with that.
I’m super excited to talk with you about your real estate needs, match our solutions to your issues. Stay safe. Stay healthy. And we are here to talk with you about all of your real estate needs. Have a blessed day.