With interest rates slowing the market, the open house is officially back in business
For a very long time, agents did not need to hold an official open house for their properties. For sellers, listing their home was like your average 20-year-old’s dating pool – there was no shortage of suitors and they all brought something to the table.
Lately, the market for new and existing homes has slowed considerably. Thanks to the Fed’s blitz of interest rate hikes, the pool of eligible buyers has shrunk. Now, for the qualified real estate agent who knows how to market a property, that’s no big deal. Hosting open houses is a solid strategy for selling a home, and sellers hide the clutter, set the scene, and put balloons on their mailbox. Open House is officially back.
For Briggs Freeman Sotheby’s International Realty, not only is the open house back, it’s back in a big way.
“We are seeing a big comeback of the in-person open house. As fun and convenient as virtual open houses are, you still want to be in a house, walk through it, see the natural light, feel the proportions of the rooms,” Maria Cintron, executive vice president of marketing at BFSIR, says CandysDirt.com.
While we’ve detailed several open houses this weekend for your perusal in our weekly open house roundup, if you’re hungry for more open house action, BFSIR has over 60 open houses planned for the weekend. end of October 15 and 16. The houses are open either on Saturday or Sunday, but not both, and they can all be found on one convenient website.
“Open houses are back – and the North Texas market is robust. If we compare key metrics to 2019 — the last market that can be considered normal — our market is in very good shape,” Cintron said. “For Dallas County alone, sales volume was $9.7 billion for the first nine months of 2022, a 38% increase over the same period in 2019. Even with some signals of economic fragility going forward, our market should be somewhat isolated. The big reason? The continued attractiveness of North Texas for those moving from other states. We expect this demand to continue.
You can see an updated list of homes on Briggs Freeman Sotheby’s International Realty Fall Open House here.