Today’s real estate market—much like the economy in general—is puzzling. It is nothing like it’s ever been before. With the housing inventory significantly down and interest rates double what they were three years ago, both home buyers and sellers are feeling a lot of uncertainty.
One thing hasn’t changed: As we prepare to leave the season of traditionally hot summer days (and home sales) behind, potential sellers always tell me, “If I don’t have my house on the market by Aug. 31, I’m going to wait until spring.” Their thinking is that families are already settled for the school year, the holidays are coming, and no one wants to look at houses when it’s cold.
This isn’t the best strategy. Why? Because people truly are looking for homes 12 months per year! The real estate sector as a whole understands that the “three D’s”—death, divorce and disease—often necessitate a need to relocate, no matter what the calendar says. Specifically in the greater Dayton area, career and military transfers occur year-round.
Even in a time of generally slower home sales, the Oakwood market is still very much alive. This community is unique, because of its “landlocked” status; we have nowhere to spread to (unlike the cornfields of Springboro or Beavercreek, which are constantly snapped up by developers). Very few homes have been built in Oakwood in the last 70 to 80 years.
Combine the comparatively low housing inventory with Oakwood’s unbelievable school system and community feel, and you have a recipe for soaring demand. It’s often said that our little city is “today’s Mayberry.”It is one of very few places in the country that still retains many Mayberry-ish qualities. Children can go out and play safely. Neighbors watch out for each other’s families. Community is still important to almost everyone here.
In fact, many empty nesters stay in Oakwood (despite our admittedly higher taxes), specifically because they know they won’t be able to replicate that sense of community elsewhere. One longtime Oakwood resident loves this area so much that he only sold half of the double that he owned, to retire to the Southwest. He keeps the other half unrented, so he and his wife can enjoy summer and fall right here.
Demand in Oakwood is so high that I recently listed a home and received seven offers in one week!
The takeaway: If you want to retire to Arizona or Florida, go when you want to go. Put your house on the market, no matter what season it is.
Jill Team’s included prepping and staging services help sellers get the most competitive offers, ensuring that you don’t leave money on the table. If you are planning to retire to a more expensive area, we can maximize what you’re taking with you. Email jill@teamjill.com or call 937-689-2858.