In November of 2022, the Indy market saw its first price dip in TWO YEARS 😱—what happened?

It was a perfect storm from two fronts colliding:

1. We haven’t really seen this for awhile since interest rates had been SO LOW for SO LONG, but real estate markets are usually affected (both positively and negatively) by the seasons. Let’s face it, buyers just aren’t as motivated to move in the fall.
2. Since transactions usually take about 30 days to close, the numbers we see in November are actually reports from negotiations that started in October. Do you remember what happened in October? That’s right: interest rates increased.

This means some potential buyers who were already not motivated because of the season became even less motivated when their estimated mortgage payments jumped up $400 or $500.

Pair all that with the entitlement that we’ve seen lately from sellers drunk off of the stories from the last two years and it shouldn’t be surprising that the market dipped.

Sellers, you are still going to be able to sell your house for sometimes more than 8% appreciation—and that is still an outstanding return on investment! In a time when many sellers haven’t gotten the memo about the market shifting, you can stand out with just a little investment in what I like to call the ✨TRIFECTA✨:

1. Painting
2. Flooring
3. Staging

When you show buyers that you care about how they feel walking through the home, you will enjoy the even better ✨TRIFECTA✨ of:

1. less days on market
2. higher sales price
3. the feel-good energy of being proud of your house

I’ve got contractors to connect you with and can get your house up to speed in as little as a few weeks. Best of all? I manage the whole project because I believe in the results so much. (Don’t have the cash to invest in the trifecta right now? I’ve got a program for you!)

You can reach me at (317) 379-7720 or send me an email at courtney@locallivinggroup.com.