Local market update: August 18, 2023
Recently, there was an article posted by Fox Business which states that “The market is at a standstill,” according to Redfin CEO Glenn Kelman. “Sales volume is absolutely rock bottom. The people who need to sell won’t do it because they don’t want to give up their mortgage. The people who normally would buy can’t afford it.”
There’s an old saying in politics that “all politics are local.” I would add that the same applies to real estate. All real estate is local. The Johnson County market continues to remain robust. I am working with several buyers and sellers in this market. Anecdotally, we are selling and buying houses rather quickly in our current market. These are properties that are priced correctly with consideration of recent market sales.