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December 2023 Market Update

Market Updates The Erin Oldham Team December 10, 2023

Happy December!
It is wild that we are already in December. We are enjoying spending our time planning for a robust 2024. We know of a ton of agents that have listings coming up in the new year. It should be fun! As always, here’s the inside scoop on the market from The Erin Oldham Team.

Market Insights from The Erin Oldham Team

  • Interest rates have been going up and down between high 6s to low 7s. We saw someone get a 6.85% rate last week. To get to that level generally requires good credit and 20% down. This is saving people hundreds of dollars a month on a mortgage. Jumbo rates are in the low 6s (6.375!) and we have some great jumbo mortgage brokers if you need one. 
  • Most people are saying interest rates will be in the 6s next year. We shall see!
  • Most of the buyers are out holiday shopping so now is a good time to look around and negotiate prices down. 
  • Homes below $800k are still selling competitively while homes above that can be slower, especially if they were priced aggressively.
  • Strategy is everything with buying right now! Some homes require speed; some require waiting a week for an opportunity to negotiate down. 
  • We are still seeing a lot of off-market deals. See below for what we have eyes on!
  • We know we have a lot of people considering a move in 2024. Reach out to set up a consultation about the best strategy for you.

The Real Deal: The Market Now


Recent Successes of The Erin Oldham Team

  • We closed out a couple of the Harborside condos last week. One is a current renter who is so excited to settle into the gorgeous condo that she now owns!
  • We just closed on a fantastic 12-unit multi in Portland. The owners have been stewarding the building for 25 years and were excited to move to their next chapter - going to try out living in New Orleans! This was a really interesting deal where owner financing allowed the owner to make more money and allowed the buyer to offer a higher price as they were getting a lower interest rate through the owner financing.
Reach out with anything you need!

Work With Us

“Over and above” is our attitude when we partner with clients to figure out their next move. Off-market listings, customized searching, consistent communication, and market insight are emphasized. Profit from our personalized experience to get you what you want.