Hot WNY Real Estate Market Slows Down Slightly
Emily Cornwell has worked in the real estate industry for six years. As an Associate Broker at Howard Hanna Real Estate Services, she is about to list a home in the Parkside neighborhood of Buffalo. She says it’s always a good time to sell your house.
“It’s definitely a sellers market,” she said. “The inventory has not balanced out for the pool of buyers and the number we have.”
She says there are even more people looking to buy than there are existing homes available. Combine that with low interest rates and it creates a hot housing market.
“This market has been hot,” she said. “It’s manageable, however, in the sense that you find out what your customers’ needs are. You find out what their goals are. Their schedule. What is most important to them. And then you work in that direction while guiding them in their best interest.
But Cornwell and other agents have seen a slight cooling in the market lately. It’s a trend across the country, where sales of existing homes fell 2% in August according to the National Association of Realtors, but prices are up nearly 15% year-over-year. And with a few more homes for sale, it makes life a little better for people who are trying to buy a home.
“It’s not impossible,” she said. “If you are a buyer and you are working with the right agent, trust is built there and you are working in the right area of which makes sense given what you are looking for and your situation, it is all. quite possible to get the right house now too.
While sellers are in a good position to get the best value for their money, she has a few tips for buyers who might be concerned about bidding on homes or having to wait longer than they would like.
“I think sometimes it’s important to be patient – to have confidence that the right thing will be presented at the right time,” she said.
A little bit of endurance for those in need who want to get into their perfect home.