In the beginning of this year, right under our eyes, Downtown has transitioned into a sellers market. The lack of inventory and the raising demand caused a spike on prices and is getting very hard for the buyers to get what they want. Multiple offers and overbids are very common and some buyers might have missed the boat. The ones that are waiting for prices to go down more, should stop waiting and buy while prices and interest rates are low. This phenomenon does not extend all over the city, but could spread soon.
April 11, 2012