The Van Gundy Report June 2024: Market Pulse & Real Estate Insights
Welcome to the June 2024 edition of The Van Gundy Team Report. Whether you're buying, selling, or simply watching the real estate market, this month’s update brings you up to speed on trends, challenges, and opportunities in our region. From inventory shifts to pricing pressure, here’s what you need to know right now.
Current Market Overview
Inventory is tight: The number of homes available for sale remains limited, giving sellers more leverage in multiple-offer scenarios.
Pricing pressure continues: Because supply is low, prices have held firm or in some areas even increased slightly.
Buyer demand persists: Despite rising interest rates in recent times, many buyers are still actively looking—especially for well-located, move-in ready homes.
These dynamics create a competitive environment where strategic pricing, timing, and marketing are more important than ever.
What’s Driving the Trends?
A few key forces shaping the market in June:
Interest rates: While higher rates can cool demand, buyers who are already qualified or who take advantage of locking in rates find ways to stay in the game.
Seasonality: Summer usually brings a pickup in movement—people want to relocate before the fall.
Buyer preferences: More buyers are looking for homes with modern touches or minimal renovation needs, reducing tolerance for “fixer-upper” properties.
Opportunities for Sellers & Buyers
For Sellers
Stage your home to stand out. When buyers are choosing from limited inventory, first impressions carry weight.
Price a little aggressively but smartly—too high can scare off interest, too low leaves money on the table.
Be ready to move quickly once offers arrive. Delays can kill momentum.
For Buyers
Get pre-approved before you look. This strengthens your offer in a competitive market.
Be decisive. When a good home appears, hesitation may cost you.
Stay flexible. Consider homes that check 80–90% of your boxes rather than waiting for perfection.
What to Watch Next
Rate movements: Even small changes in mortgage rates can influence buyer behavior dramatically.
New listings: If more sellers come onto the market, we might see some easing of competition.
Local developments: Infrastructure, schools, or commercial growth in your area can shift demand in unexpected ways.
Final Thoughts
June 2024 reflects a dynamic real estate landscape in which supply constraints and sustained demand continue to conspire. For sellers, it’s a moment of opportunity—but only if you approach it strategically. For buyers, persistence and preparedness are your best tools.
Stay tuned for next month’s update, where we’ll dive into neighborhood-level breakdowns, emerging “up-and-coming” zones, and tips to navigate the shifting landscape with confidence.
