Whiteboard Topics: Has The Lake Real Estate Market Peaked?

It can be difficult to determine if the market has reached its peak when you’re not familiar with real estate patterns. Lake Homes Realty’s CEO, Glenn Phillips, breaks down three factors that are affecting the market as we know it.

  1. Modern Increase in Inventory: There are several components that go into this, some of which include: the economy, buyer fatigue, and life post-pandemic. Searching for a home, in a market this intense, can become overwhelming, and the effects are starting to show themselves.
  2. Days-on-Market Up: Homes aren’t flying off the market as they once were. This is a clear indication that the frenzy is starting to slow down.
  3. Fewer Offers: The competition isn’t as fierce as it once was. Homes are no longer being flooded with offers as soon as they reach the market.

Although noticeable changes are being made, this isn’t to say we are in a bubble or about to crash. Now is still a great time to sell your lake home for a return on your investment. On the other hand, if you plan to buy, waiting a little longer may lead you to more opportunities.

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