Buyer forecast for 2023:
This could be the year when the ridiculously slanted seller's market begins to level out. For the last few years, sellers could expect the highest feasible price and bidding wars for their homes. But that started to change some in 2022, as prices got so high that buyers started to balk. Many homes have started to linger on the market and see price reductions, and inventory has finally started rebounding.
I don't see things quickly shifting to be a buyer's market though, I would say that there may be more deal buying opportunities in 2023, but prices are probably not going to come down substantially, so it will still feel like prices will be at a premium.
If you are thinking of buying in 2023, we'd be happy to help, give us a call!
|
 |
Averages of a sold home in New Hanover County
in 2012: $122 per square foot
in 2013: $128 per square foot
in 2014: $135 per square foot
in 2015: $139 per square foot
in 2016: $143 per square foot
in 2017: $155 per square foot
in 2018: $160 per square foot
in 2019: $173 per square foot
In 2020: $191 per square foot
in 2021: $223 per square foot
in 2022: $265 per square foot
|
|
