With a record breaking May in new transactions written within our company, we can confidently say the local market has been HOT! In dissecting the numbers, what we found interesting was that properties that went into escrow nearly doubled from last month, and newly listed properties pretty much remained the same. This means that static inventory has been selling, which is likely making a lot of Ojai sellers who have been patiently waiting, very HAPPY! It appears that buyers are increasingly motivated and more willing to pull the trigger of commitment to a property…. a trend that didn’t appear to exist a few months ago. Perhaps it was the “season” or conversely it could be the careful eye watching interest rates begin to creep up slowly. With rates this low, it’s an ideal time to enter the market and lock in a low rate. On the flip side, with newly listed properties plateauing and properties entering escrow increasing, the market is going to need more sellers! Whatever your current position is and whether you’re considering buying or selling; the Michaels & McClung Team is happy to consult and guide you through the process.
And, as always….if you know someone thinking of buying or selling that could use our expertise, please just give us a call!