Housing Inventory on the Rise
In a real estate market that has been starving for housing inventory for years, May 2019 showed some excellent signs that things might finally be changing, with our active housing inventory almost hitting 9,000 available homes on the market. That is the highest amount of available homes on the market all at once since the end of 2013.
This much needed uptick is an excellent trend in my opinion. Buyers are finally getting to make sound decisions within their home search. For a while, buyers were forced to make quick, rash decisions based on the competitive market. Getting time to choose on one of their largest investments in life is naturally the way it should be.
Although positive inventory levels exist, things are still presently leaning towards a sellers’ market. Sellers are still getting over 99% of their list price and going under contract in about 30 days on average.
The days of multiple offers on your home within the first couple days on market is starting to be a distant memory. Now more than ever, it is important for sellers to interview a couple agents when going to list their home to make sure the agent has a professional marketing plan and experience in negotiation. The value of a great agent lies within this plan and allows you to still maximize top dollar in our current market.
If you ever have any questions about our local market, please don’t hesitate to give us a call as we are happy to provide you with the detailed analysis you deserve to make a sound decision. Enjoy your summer!
Brett Felz, Broker/Owner, Sellstate Peak Realty, 303-579-0666 or 720-204-6776, firstname.lastname@example.org