As I look back at July and August we saw a definite cooldown of the market. However, we are still dealing with extremely low inventory, low-interest rates, and Covid. I suspect this Fall market to pick up and continue to be a competitive market for Buyers as low inventory continues and demand stays high. I have previously not found federal elections to have much of an immediate impact on the local real estate market. As always, I am here to help if you have any questions regarding real estate.
PS. I wrote an article below on a new ALR rule coming into effect later this year.
ALR ChangesIncreasing housing flexibility in the ALR
As of December 31, 2021, new rules will allow property owners in the
ALR an option to have both a principal residence and a small secondary
If the principle residence is under 5,382sqft, then a secondary detached
residence up to 969sqft can be built. The principal residence is also
allowed a legal suite. This will make ALR land a great option for families
who are looking for multi-generational living!
We made a great informational video, click here to watch.
Contact me for more information!