How You Can Take Advantage of Our Inventory Crunch

Our current inventory crunch and the high demand we’re seeing from buyers make now the time to sell quickly and for top dollar.

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Our current market is in the middle of an inventory crunch.

Every winter, families across the country decide if it will be the year they sell their current house and move into their dream home. Mortgage rates hovered right around 4% for all of 2017, which forced many buyers off the fence and into the market, resulting in incredibly strong demand right now.

At the same time, however, inventory has dropped dramatically compared to this time last year. Trulia reported that in the fourth quarter of 2017, inventory decreased by 10.5%. This was the biggest drop we’ve seen since the second quarter of 2013.

If we look at the percentage of change in inventory by category from the fourth quarter of 2016 to the fourth quarter of 2017, we find the following:

- Total homes decreased by 10.5%.
- Starter homes decreased by 19%.
- Trade-up homes decreased by 11.4%.
- Premium homes decreased by 5.9%.

These are very significant numbers. What does this mean for you, though?

Demand for your home was very high and competition has never been lower.

If you’re a seller, this means demand for your home will be very high and competition has never been lower. This is a winning combination, but things will change once the spring market hits and conventional thinking will move many people to list their homes, so get the jump on them now.

We know this is a big decision, so we invite you to sit down with one of the neighborhood experts on our team so they can take a close look at the market in your local area, advise you on repairs you should or should not undertake, calculate your home’s value, and show you how big your check will be at the closing table.

If you have any other questions about our market or any other real estate needs, don’t hesitate to reach out to us. We’d love to help you.