2023 has been met with a continuation of the same challenges of late. It may not be a great time to be a real estate agent, but that doesn’t mean an unhealthy market. We seem to have weeded out the sellers with “make me move” prices, those aren't realistic anymore. Prices in general are down, but certainly still above pre-pandemic levels and I think that's probably here to stay. Buyers are waiting to see if interest rates come down, if prices come down, if the market changes. The question is; who caves first? With the market picking up over the last couple of weeks, early indications are pointing to buyers. Buyers do seem to have more control than we've seen over the past couple of years both in price negotiations and inspection negotiations, but I'm not sure if it's a buyer's market or seller's market. It's just a neutral market. Buyers still want in, but a lot of sellers don't really want out. With inflation slowing things down, everybody seems pretty content, even me.
Let's look at the data. It may seem slow, but the numbers might surprise you:
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RESIDENTIAL Jackson |
LAND Jackson |
***Source: Teton Board of Realtors