Summer 2020 Hays, KS Area Real Estate Update

Robert Readle here with your summer market update. 2020 has shown us a very hot market here in Hays.  Buyers are struggling with multiple offer situations and now there are very few homes to pick from.  Sellers are seeing their homes sell faster than ever and average prices are higher than they’ve been in the last two years. 

So far this year we’ve seen an increase of over 38% in the volume of transactions that have happened this year and judging by the contracts that were written in August that’s gonna continue on throughout the end of the year.  As the number of homes continues to drop and the cold weather sets in I’m sure things will slow down a little bit but we are still seeing very strong demand.

With interest rates at historic lows and prices averaging higher than we’ve seen for some years, it’s a great time to take your equity out of your home and upsize.  If you’re trying to downsize it’s a really good time to realize the full value of your home.  The challenge is going to be finding that replacement in your home. 

The toughest category of buyers is first-time homebuyers.  With multiple offer situations and fewer homes to pick from it’s more important now than ever to have a professional on your team that will help you find the home you want. 

So if you’ve been thinking about upsizing, downsizing, or it’s your first time buying a home, reach out to any one of our highly qualified professionals here at Coldwell Banker Executive Realty.