In a comprehensive industry interview, Mariam Surguladze, Vice President of RE/MAX Realty Park, analyzed the temporary contraction in sales velocity registered toward the end of 2024 and the market's transition into a cautious observation phase.
Ms. Surguladze attributed the volume slowdown to a combination of factors: rapid preceding price appreciation, prospective buyer sensitivity to elevated interest rates, and broader regional economic uncertainties. However, despite lower transaction frequency, developers maintained firm pricing due to high replacement costs.
"This represents a natural cyclical consolidation phase where buyers and sellers recalibrate expectations. For discerning purchasers, this environment presents enhanced negotiating leverage, while for sellers, establishing an accurate, data-backed market valuation (CMA) is imperative," Surguladze emphasized.
RE/MAX Expert Advisory "Before finalizing any real estate acquisition or sale, consult with a certified RE/MAX Realty Park broker to obtain an updated Comparative Market Analysis (CMA)."
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