An increase in home sales, rising prices, and slightly lower interest rates make the market more favorable for buyers.

Is now a good time to buy or sell your property? With warmer weather and longer days ahead, it’s a great time to take a closer look at the real estate market. Let’s dive into the current conditions and see what they could mean for you in the coming months.

Spring brings opportunities. As we move from spring into summer, we're starting to see more inventory come out, which is typical for this time of year. This shift in supply could present a great buying opportunity, especially with the current interest rates that seem to be staying relatively stable in the mid-60s to upper-60s range. It’s a good sign for buyers who are hoping to lock in favorable rates.

A long-term view in the economy. Over the last 45 years in this industry, I’ve seen many economic shifts. One thing I’ve learned is that even in tough times—like when interest rates hit over 21% back in the 80s—we were still helping clients buy and sell homes. The economy will always have its ups and downs, but real estate remains a solid investment. 

A look at recent market trends. Now, let’s talk numbers. Looking at the data from March 24th to March 2025, we’re seeing some promising trends:

“With more inventory coming into the market, it might be a good time to make a move, whether you’re buying or selling.”

Home sales: We had 121 home sales last year in March, compared to 142 this year—a 17% increase! This uptick in sales shows there's still strong demand in the market, despite the economic uncertainty.

• Average sales price: The average sales price in March 2023 was $1,100,000, but this year, it's up to $1,195,000, marking an 8% increase. This price jump is a clear indicator that home values are holding strong, even in the face of fluctuating interest rates.
  
  

• Interest rates: Last year, interest rates were at 6.731%. This year, they’re slightly lower at 6.600%. While it's only a small decrease, it’s still a positive trend for buyers looking to secure a mortgage at a more favorable rate.

Overall, we’re seeing a slight decline in interest rates, which could make it easier for buyers to purchase. With more inventory coming into the market, it might be a good time to make a move if you’re buying.

As always, if you have any questions or concerns, feel free to reach out. Just give me a call at 818-953-5300 or send an email to brad@bradkorb.com. I look forward to hearing from you and answering any questions you might have about the current market or any other real estate needs.