Easter Turn?

Written by Leslie Kopp Friday, May 15, 2009

What is it about Easter? For me, it’s the proof that spring is really here and a time of looking forward. Based on recent activity, others must feel the same. It was almost like someone turned on the switch. Phones started ringing and this time they were serious. I had three sales just from activity of that weekend. So has the market turned?

The numbers are starting to show it as well. Since Easter, 13 single family houses and 8 condo/townhomes have gone under contract, almost the same as a year ago. That hasn’t happened for some time now. I put another house under contract this past weekend and am working on three others which look promising.

Accordingly, I believe the market is turning, and it is doing so in sequence from low to high. Even before Easter, lower priced properties (<$500,000) were selling, increasingly well. Since then I have seen activity pick up in properties around the $1 million mark and more inquiries up to $2 million. The higher end remains very weak for now.

Still, I sense a rising confidence out there that portends continuing improvement over the next few months. As before, buyers seem to be motivated by price and not emotion.