SML Real Estate Market Update- February 2015 | Smith Mountain Lake Real Estate | Vicki Millehan

SML Real Estate Market Update- February 2015

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High sales levels, sellers negotiating, and good buyer traffic are the main headlines to report for the Smith Mountain Lake Real Estate market this month. This year has started off terrific in the local real estate scene with numbers up in some property categories by almost double of what they were at the same time last year.

This Month’s Market Advice:

  • Buyers – Sales are flat with additional pricing pressure for both water access homes and condos/townhomes.  If you’re interested in these segments, you’re likely to find sellers who are willing to negotiate on price to get their listing sold.
  • Sellers – Qualified buyers are in the market to BUY!  You need to already be on the market if you want to sell in 2015 — especially if you are selling a waterfront home or property where pending sales activity is trending off the charts!

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Historically this time of the year is slow, this is not the case for 2015. We are busy as ever here at the office with serious buyers looking at properties, and sellers inquiring about putting their home on the market before the competition gets fierce in the spring and summer selling seasons. Despite the train of thought that spring and summer are the best times to buy or sell, many (including myself) say that now is the time to be in the market.

Contact me to learn more about the great opportunities that currently exist in the Smith Mountain Lake markets for both buyers and sellers.