The Spring Market is Here
Real estate experts and economists agree that the real estate industry is gaining momentum. If you were hoping to put your home on the market for the traditional Spring selling season, be advised that Spring has already sprung. Need proof? Here are just a few of the latest headlines from some of the most respected news organizations:
Home Selling Season isn't Waiting Until Spring this Year – L.A. Times, Jan. 20
Housing Offers Hope of Strength in the Economy – New York Times, Jan. 24
Housing Emerges as Economic Bright Spot After Years in the Dark – Washington Post, Jan. 28
Home Prices Climb by Most in Six Years as U.S. Market Firms – Bloomberg, Jan. 29
Essentially, low interest rates, rising rents, and a positive economic outlook are driving buyers who want to realize the dream of homeownership. With limited housing inventory, buyers are competing against one another for those properties that are priced well. The competition is resulting in bidding wars, which is driving up housing prices. The message is clear for sellers. Right now is a prime opportunity to sell a home. Sellers need to ensure their property stands out from the competition with proper price positioning and home presentation. If the home is priced right, and is in good condition, it will sell.
Buyers shouldn’t sit on the fence either. With a lack of inventory, competition for that perfectly priced dream home is becoming fierce. Come prepared with solid financing, be ready to make a quick purchase decision, and be reasonable with your offer and expectations. In some communities and price points, the buyer’s market has already tipped towards a seller’s market. As all real estate is local, what may be happening in some parts of the country may be different than what is taking place in your community. If you need help, please contact me and I will provide you with a competitive market analysis and review current market conditions with you. I will use this information along with a review of current inventory, recent comparable sales prices and other data to advise you. In addition, I know which properties currently on the market will impact you, and can guide you on the optimal listing price to sell your home.
If you are buying, I can help you decide an appropriate purchasing price so you can make the right offer on the right home for you. Changing seasons are inevitable, so take advantage of this season while it’s here.
Rockland County Housing Statistic
(Activity last 30 days source MLS)
Total Inventory: 956 346
Under Contract: 107 33
Title Transfer: 82 36