Slow Start To Spring Real Estate Market, Agents Remain Optimistic
By Michelle Durham
PHILADELPHIA (CBS) -- Normally, real estate agents advise those selling their home to have it up by St. Patrick's Day to capture the best buyers in the spring market, but this year there aren't as many for sale signs up.
Vice President and Sales Manager of Long and Foster in Blue Bell Deborah Wideman Phillips says the spring market is getting off to a late start because of the snow, but it's triggering a demand for homes.
"I think it has been a later start. We have been so, so busy but I think that a lot of people have waited to put their home on the market because of the weather. We are going to have a marvelous spring!"
Mike McCann of Prudential Fox and Roach says the Center City real estate market has been largely unaffected by the weather.
"Open houses have had incredible turnouts. The market is the best I've seen since 2006-2007, multiple bids on properties."
Both say sellers need to put their best foot forward by sprucing up their homes. Buyers need to be pre-approved.
Phillips and McCann say prices are rebounding.
"It's balanced enough where the sellers are making money and the buyers are still happy with what they are getting."
Both say the pendulum is beginning to swing toward the seller.