How is Market?

September 2026 News

As the Summer winds down and Fall and football begin, I feel it is a good time to catch up.

The most common question asked of any Realtor is, “How’s the market?”

Ah, such a loaded question!

There is not one answer for this, it’s just not a one-size-fit’s all explanation.

I could easily answer the generic, “very busy,” or answer with what has plagued the real estate

industry for years, “not enough inventory.”

If you have an hour…or maybe enough time to read this newsletter, I can tell you, our local market

still has a high demand from buyers to purchase, but affordability has narrowed and buyer’s

response to higher purchase costs is that they are choosy and expect more.

For sellers, the appreciation rate remains at approximately 3% in our local area. Home prices have not

dropped exponentially, but buyers are not desperate. They will wait for the home that fits their needs and

their budget. And once there is a deal in place, condition is a big deal. With a limited budget, buyers are

looking for homes that are well maintained and updated. No they don’t want to replace your flooring, they

are expecting you to have already done that.

Interest rates…if you search for the average interest rate since the 1970’s; 6-7% is the average. This is right

where the rates are sitting today.

So, how is the market?

It really depends on the price and location. Some price ranges are hot spots as well neighborhoods. New

construction homes are needed in nearly every community. However, the price per square foot to build is

high, so again, affordability is a challenge.

If you are curious about your neighborhood or want to get an updated market analysis for your property,

reach out to me. I have a short summary version that I can email you. It is a good idea to know your market

value compared to the assessed value.

Speaking of assessed value, the property tax documents were in the mail this week. If you have questions,

please connect with me.