Currently, there are just over 1,000 active homes on the market. The average sales price is $860,000, and homes spend an average of 69 days on the market. In more desirable areas, homes are on the market for one or two weeks!
Inventory is extremely low right now, with about one month of inventory on the market. Since there is a shortage of inventory, home values are going up. Many sellers are receiving multiple offers, especially in desirable areas with good schools and great amenities nearby.
Interest rates remain at all-time lows, hovering in the high threes and low fours for a 30-year fixed mortgage. Buyers have a lot more purchasing power right now, so take advantage of these low rates. “Low inventory means you can sell for top dollar!” What does this mean for you? If you’re looking to sell, you can get top dollar for your home so long as you are priced correctly and have an aggressive marketing plan.
For buyers, the market is quite competitive. It might take a little while to get you into a home, but we can come up with a plan to get you to the closing table. Plus, those interest rates are fantastic!
If you have any questions, give us a call or send us an email. We look forward to hearing from you!