- Brandon Still - Realtor
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- October Chronicles - Northwest Arkansas
🍁 Northwest Arkansas Chronicles: October 2023 Edition! 🍁
📊 Interest Rates Recap - September 2023: 📊 Before we delve further into the wonders of October, here's a brief snapshot of where interest rates stood in September. Overall, we saw rates this past month hit highs we have not seen in 20+ years. It is more important now more than ever to leverage a great real estate professional to assist in negotiating concessions for buyers to buy their interest rates down, or price for buyers looking to purchase at a discount in this market. With mortgage applications at lows we have not seen in 20+ years, it presents an opportunity to capitalize while most are on the sidelines.
30-year fixed mortgage: Averaging around 7.7%
15-year fixed mortgage: Circling around 7.1%
It's always recommended to connect with your financial advisor or lender to discuss how these rates might impact your decisions and strategies.
Market Temperature: As expected, September saw a mild slowdown compared to the summer's hot market. Historically, as we transition from summer to fall, there's a slight decline in property listings and sales. But that doesn't mean opportunities ceased; it just meant the market was more balanced. With that, we still saw the median sale price in each of the big 4 cities in NWA up around 10% to last September.
🏡 An Opportunity Knocking in the Housing Market: 🏡 While inventory remains tight in the Northwest Arkansas housing landscape, this moment continues to present a golden opportunity for homeowners. If you've been contemplating selling your property, now might be the opportune time to capitalize to ensure a close before the holiday season arrives. With continued high demand and limited supply, selling conditions are favorable with the right pricing and marketing strategies. The NWA economy continues to grow with unemployment well below the long term average (2.4% vs 3.7%), populations nearing 600,000 strong, & median prices are still climbing year over year and month over month. As we close the year and the holidays approach, expect sales volumes to drop comparatively to summer & fall numbers.
🍂 Wrapping Up: 🍂 If you’re interested in understanding the potential value of your home, I am here to help! Reach out to me, and I’d be more than happy to provide a FREE property analysis tailored for you. Knowledge is power, and understanding your home's worth in the current market could be the first step in making a significant decision.
Featured Listing - Schedule A Private Showing With Me!
Courtesy of Brandon Still - Mainstreet Properties
Brandon’s Pick of The Week
3 Bedroom, 2.5 Bathroom PLUS Office - $649,000
Backed up to Tunnel Vision bike trail, and 15 minutes from downtown Bentonville! New construction home finished in September 2023.
52 Chatburn Dr. Bella Vista, AR 72756 - Check out a video tour HERE.
Exclusively Listed By Brandon Still with Mainstreet Properties
Tune In To NWA Investing Podcast - Episode 20 Out Now, Poker Player Turned Investor!
