Sales last month dropped significantly compared to the rapid pace we saw 12 months ago. It seems we have peaked in this 2023-2024 cycle and are now in a holding pattern until after the U.S. elections. Combined with the anticipated rate cuts from the Federal Reserve this month, and possibly a few more beyond that, we could see another rally in real estate prices across the board.
Despite the downward trends, AAA-grade properties continue to sell readily and are holding their value. Growth is steadily moving outward, with previously undervalued or remote locations undergoing gentrification and or improvement. At the same time, all overpriced, lingering listings will need to reduce their prices if sellers genuinely want to sell. This "shakeout," as it were, will create a more level playing field for everyone in the future.
Currently, we,at Sol Realty are seeing some prime properties available at bargain prices, which we would be happy to share with you upon request. "The Future is Now," as they say, and this adage has never rung more true than at this moment.
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