With the high demand for real estate properties in the local market there are a few reasons that can be cited for the sudden surge of buyers. The increase in demand for properties outside the city has created a very competitive market that has realtors and brokers scrambling for available areas.
Anyi Wong-Lifton quoted a real estate agent in North Clackamas County, Debra Matthews, who said that the latter has never seen a market as competitive as it is for the past 23 years. Debra works for Hasson Company Realtors and she also sells house located in other parts of Oregon.
One of the reasons for such sudden demand is the increase in prices within the city. As a result, it creates a more competitive environment in the areas located just outside the city, which others may call a hot spot. A variety of reasons may arise aside from the fact that they are looking for areas that they can afford. Another ground would be getting more land as well as a house for their money's worth. Others love a more peaceful environment and a much slower pace compared to city life. And for these reasons potential buyers are willing to travel longer distances.
On the contrary, Matt Durr reports the current real estate market in Ann Arbor, which a city in the State of Michigan. Ann Arbor was ranked 9th on the list in the top-20 hottest real estate market based on strong market demand. A factor affecting such is the low availability houses on sale versus the demand of would-be buyers. Although, the Ann Arbor Area Board of Realtors pointed out a 10 % increase in April 2015 compared to last year. Yet showed a 2% to 3 % increase in sales as well.
To put a certain breakdown on the statistics of certain counties across the country, Paul Owers wrote that May has been the best month for Broward County with 1,527 closed sales, which is 14% higher versus last year. Palm Beach County has a median price of $295,400 a 5% increase versus last year but still resulted to a 6% increase in sales with a closing sale figure of 1,739 homes. Factors helping the boost are the less strict financing applications, confidence in the economy and low interest rates.
With the high demand for real estate properties in the local market there are a few reasons that can be cited for the sudden surge of buyers. The increase in demand for properties outside the city has created a very competitive market that has realtors and brokers scrambling for available areas.
A lot of contributing factors can be pointed out for the increase in demand for real estate. Despite the fact of the suburbs benefiting more, city areas are still thriving one way or another when it comes to closing real estate deals.
