2018 Showing More Inventory vs 2017, But Prices Still Go Up!
Jan and Feb 2018 started out great with more New Listings than previous years. But as of mid-March, New Listings is lagging behind the trend. Sellers may surprise us all by opening their doors later this month though. Even with more inventory in Jan and Feb, median sales price is still increasing over the same period last year. Demand is just that much greater than the relief of the additional homes. Anything less than a large quantity of inventory means prices go higher: Great for Sellers – Bad for Buyers. However, Buyers with the down payment may find less competition due to higher interest rates and interest deductions limited to $750,000 of loan. How much more and longer can the market bare? I don’t have the answer but I know 2018 will continue to be a Seller’s Market. So, if you are in the market to sell, then you will be rewarded very nicely.
For more information, please download and read my March 2018 newsletter.
If you need consultation or assistance in preparing your home for listing, please give us a call. We have years of experience renovating, preparing, staging, and selling homes at any condition and budget. We have also have well-qualified buyers who are ready to deal privately as necessary.