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Housing Market Update: 2021 Q3

I hope this article finds you and yours doing well and enjoying the Autumn season. One of the seasons all of us Midwesterners seem to enjoy; the cooler temperatures, shorter days, and beautiful changing scenery. Let’s be sure to take it all in!

Despite an end-of-summer taper in home sales, the housing market in Macon County remains stronger than ever. The metrics are continuing to trend in the right direction- Days On Market are pushing lower and average Sales Prices are continuing to rise- all caused by the historic lows of available housing inventory. Most new home listings that have updated features and are priced appropriately are selling quickly!

Today’s market has been intimidating for some buyers and I’ve heard from a few friends recently that they are holding off on buying until the market calms down. I encourage those who share this sentiment to strongly reconsider! We’re in unique times and although home prices are near all-time highs, mortgage interest rates are near all-time lows. Investing a little extra in a home while benefiting from low-interest rates gives buyers more purchasing power than ever before (example attached).

I would like to give a special welcome to our new brokers: Olivia Brewer and Valerie Wallace. Olivia has been with our team for almost one year as our marketing director. Now, she’s a licensed broker and is assisting our clients in the buying/selling process, while continuing to oversee all marketing initiatives. Valerie has been a licensed realtor for over a decade and decided now was the time to transition from property management to full-time brokering. Both Olivia and Valerie will do very well as they advance within the real estate industry and grow with our team!

Our team of professionals at Main Place Real Estate is privileged to continue to help many of the new and current community members achieve and maintain the American dream of homeownership!

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