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.
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!