May 2023 Real Estate Blog

Dated: May 30 2023

Views: 338

As the summer sun shines brightly upon us, it's time to explore the sizzling hot real estate market and discover the perfect summer home listings or investment opportunities. Whether you're dreaming of a vacation home, seeking a new residence, or looking for promising real estate investments, this newsletter has something for you! So grab your sunscreen and let's dive into the exciting world of May real estate.

 

 Read below for housing market information, mortgage trends, and the homeowner tip/trend of the month!

The Shelby County Market

As expected in the summer time, we are seeing more home listings come on the market in Shelby County. Many families looking for a move take advantage of the summer months to sell their current home and move ahead of new school years. We are seeing a 14.4% increase in new homes on the market and a 7% reduction in the length of time listings are staying on the market due to increased buyer demand. Average home prices continue to hold strong and even increased slightly despite rumors and fears of a real estate recession.

The Jefferson County Market

 

The Jefferson County Market surprisingly saw a 5.4% decrease in the amount of new homes coming on the market, while actives homes for sale (inventory) increased compared to recent numbers. Average home values saw a full 1% increase. The average days on market held steady around the 3 month mark, though well priced homes in certain areas are still seeing multiple offers and fast contracts.

The Chilton County Market

 

The Chilton County Market surprisingly increases across all metrics. There is more recent inventory, more homes coming on the market, a significant 4.5% increase in the average home price, and a 4.9% increase in the average days on market.

Mortgage Rate Information

Mortgage rates trended upwards near the end of May, peaking higher than April numbers but lower than March numbers. May finished off with an average 6.57% rate for 30 year mortgages and a 5.97% for 15 year mortgages. The recent 0.25% Fed rate hike didn't do us any favors, though it predicted that this will be the last of the rate hikes for the foreseeable future, which will hopefully translate to lower mortgage rates by the end of the summer. For the full article from Freddiemac, click: Freddie Mac Mortgage Report

Homeowner Tips and Trends

Curb appeal and landscaping can add over 10% each respectively to your homes value. But bad landscaping and plant choices can also harm your resale value. Avoid these plants and trees at all costs. Read more here: Avoid These Plants and Trees

Did you know that the average monthly rent increased almost 26% since the pre-pandemic rates? That is crazy! Rent is increasing at an astounding rate as landlords keep raising rates and getting people to pay them. With rent increasing and home values also increasing at a steady pace, the decision to buy a home versus rent becomes even more of a no-brainer to gain home equity. Click to read: Why Buying a Home Makes More Sense Than Renting Today

There’s a New APP in Town!

I launched a new FREE app for my friends and clients! This app lets you search for homes for sale, get an estimate on the value of your current home, and track your home equity. The best news, my app won't sell your private contact data to vendors, agents, and marketers that pay to get your email and phone number from Realtor.com, Zillow, Google, etc. Browse with privacy and confidence. This is just one of many ways that I am working hard to make your home buying / selling experience the best it can be! Download it today by clicking the link here: Download Shane's Free Real Estate App.

Are you or someone you know ready to take the next steps towards buying or selling a home? Please contact me today, it would be my pleasure to be your REALTOR and to have your referrals!

 

Have a Great Summer !

keywords: real estate, realtor, homes for sale, home purchase, home for sale, home listings, shelby county homes for sale, jefferson county homes for sale, homes for sale in chelsea al, homes for sale in chelsea clabama, houses for sale in chelsea, chelsea homes for sale, chelsea homes for sale clabama, homes for sale chelsea alabama, homes in chelsea al for sale, homes for sale in chelsea al, houses for sale in chelsea alabama, chelsesa al houses for sale, house for sale in chelsea al, houses for sale chelsea al, chelsea al homes for sale, chelsea alabama homes for sale

Blog author image

Shane Plyler

     Hey! I'm Shane with eXp Realty based in Birmingham, Alabama. I have a true passion for Real Estate. I love helping people find their dream home and navigate the tough headaches of ....

Latest Blog Posts

May 2023 Real Estate Blog

As the summer sun shines brightly upon us, it's time to explore the sizzling hot real estate market and discover the perfect summer home listings or investment opportunities. Whether you're dreaming

Read More

April 2023 Real Estate Blog

April showers 💦⛈ bring cold wet days for now, but hopefully May flowers! With spring kicking into full gear, the housing market is exploding with new listings and anxious buyers. All in all, it

Read More

PSA and ABR Certifications

Exciting news! Over the last few weeks, I've been working hard to take elective and additional training courses to further my knowledge in Real Estate. I've recently obtained designations, the

Read More

March 2023 Real Estate Newsletter

Spring is near ☀️ the weather (and real estate market) are anything but clear! Read below for housing market information, mortgage trends, and the homeowner tip/trend of the month! The

Read More