Katie's Market News & Views Feb/March 2023

IS THE MARKET CRASHING OR RESETTING?

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Over the past month there has been so much speculation about the market with buyers & sellers making their own predictions based on what they are reading or seeing in the media 📈📉

As agents we are in the ‘here & now’ and most relevant to our local market in the Poole area. We are seeing with our own eyes what is actually happening measured by our results ie percentage of asking price achieved, number of reductions & the percentage of etc

I would be lying if I said prices haven’t dropped, as they have but is it crashing or are we just resetting.

Being an agent for coming up for 25 years I think we are simply resetting back to where we left off in 2019 ie before we encountered two years of what I feel was an inflated and fake market. With unprecedented demand and a huge lack of supply not forgetting to mention a relief in stamp duty, prices rocketed. Therefore, in my mind prices are not falling/crashing or plummeting they are normalising to where they should be ⚖️

Most buyers are offering lower, and quite rightly too. Many sellers still wanting last years price. Those who are accepting the reset are selling.

If you want some honest advice we would welcome a one to one meeting to discuss where your property price should be placed in todays market 🙋🏼‍♀️

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