Happy Holidays! It is so hard to believe they are here yet again. Where did this year go? We hope you enjoyed your Thanksgiving holiday with friends and family and were able to take some time out to reflect on all of your blessings. Our family enjoyed Thanksgiving at my sister Michelle’s house with her family as well as my parents. It was nice to not have to cook this year like in years recently past. The food was excellent and the company good, however we missed their son Caleb who was in NYC with his fiancee Candice. Yes, Caleb and Candice got engaged a bit ago and we are excited to celebrate their marriage next year.
This was our first Thanksgiving with Ana in college, so we got to have her back home for about 10-days. It was so nice seeing her again and spending some time with her. She was excited to get back to IU and see all of her friends. As a parent, you are sad to see your child leave, but happy their are happy at school and have friends to get back to see.
If you haven’t been to the Carmel Christkindlmarkt, I highly recommend it! Every year it gets better and is rated as the #1 Christmas market in the US for the past 3-years. We also saw Lindenhouse aka Christel de Haan’s house aka Restoration Hardware aka RH. It was amazing!!! 42,000 s.f. of space including a restaurant and a wine/coffee bar so you can walk around the house with your favorite beverage! It is something to behold. Trust me, you do not want to skip this. Simply stunning! I posted some photos on my FB and IG feed, if you would like a sneak peek. @zulugroup
A HUGE shoutout to Kylie and Thea for all of their help making our busiest month for client events a success! Kylie was able to relax at home this holiday with her family and spend time with her parents and sister. Thea headed back home to Cleveland to spend time with her family and her son Parks’ first Thanksgiving.
Thank you to all of our clients and referral partners who attended our final Happy Hour of the year! Thank you, especially to our sponsor Chris Odle with JLK Financial for sponsoring! If you would like to sponsor a Happy Hour for 2024, please e-mail Kylie@Welcome2Indy.com. Sponsors allow us to keep hosting these for you each month. If you haven’t attended one, please stop by. They are usually held on the 3rd Thursday of each month from 5-6:30pm at Matt The Miller’s in Carmel. FREE food and drinks!
We also had our annual Photos with Santa right before Thanksgiving and had a great turnout! Hope you enjoyed the professional photos with your family!
Finally, we enjoyed seeing almost 100 of our clients and referral partners at our annual Thanksgiving Pie Pick-up the Tuesday before Thanksgiving. This is our favorite day of the year as we get to see so many clients and catch up briefly on your lives and families.
November is such a busy month for us and we absolutely love seeing so many clients and saying thank you for inviting us into your families and to be such a big part of your lives. We are blessed and honored to do something we love and to work almost exclusively by referral and repeat clients. Thank you for recommending us to so many of your friends and family so we can remained focused on helping people and not ‘dialing for dollars’.
Speaking of business, this year has been nothing but weird. We are in one of the lowest inventory markets in history, but also one of the most expensive. Interest rates are coming down and are off their highs of around 8.25% and are around 7.25% and are projected to continue to come down into the 6% range next year. If interest rates dip under 6%, as they are projected to do, we are expecting a circus in the real estate market. We expect to see multiple offer situations again, and if you believe Barbara Corcoran and many other economists, the real estate market is expected to appreciate 10-15% next year. Time will tell.
What we do know is that things are really weird right now and no one has a clear crystal ball. If you or someone you care about is thinking of selling in 2024, e-mail steve@Welcome2Indy.com. I would be happy to dive deep into your property and give you tips and inside tips to maximize the value of your house and show you why our listings sell 10% faster and for 7.91% MORE than the industry average. Not only does this cover our professional services fee, but we also have a full Concierge Program to make getting ready to sell as smooth and easy as possible (and we pay for most of the services we recommend!) E-mail me to learn more!
Here are the MIBOR stats comparing September 2023 to October 2023 for all 16 counties MIBOR tracks:
Median Sales Price-$290,000-DOWN 3.3%
Closed Sales-2,276 units-DOWN 9.7%
New Listings-2,851 units-DOWN 7.5%
Pending Sales-2,401 units-UP 6.9%
Median Days on Market-15 days-no change
Average Days on Market-36 days-DOWN 5.4%
Price per s.f.-$151-DOWN 1.9%
% of List Price Received-98.2%-DOWN 0.3%
Active Inventory-4,635 units-DOWN 5.0%
Months Supply of Inventory-2.0 months-UP 5.1%
As you can see, the market has softened in some areas, however pending sales is going up, which should translate into more closed sales next month. We are seeing that although we are in a strong sellers’ market, in reality we are in a buyers’ market, in most cases. It is essential to properly prepare your house for sale and buyers expect houses to be in ‘HGTV, market-ready condition’ when they hit the market. If not, the house will sit and/or you will get ‘low-ball’ offers. We have seen this time and again recently.
We hope you enjoy the final newsletter of 2023. Click here to read our Decdember newsletter. It is full of fun holiday stories, trivia, and recipes. Let us know what you think!
From our family to yours, we wish you a very happy holiday season.
Your Friends in Real Estate,
Steve, Kylie, Thea, and Mark
P.S. Please don’t keep us a secret
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