Sellers should take advantage of this current hot real estate market.
Have you been following the real estate news lately? If so, you’ve probably heard about the intense competition and bidding wars that characterized the housing market in recent years. While that peak might be behind us, the good news is that the opportunity to sell your home at a great price is far from over. The reason lies in the persistently low housing inventory.
Low housing inventory has been a prevailing issue for quite some time now. To illustrate the trend, let’s take a look at a graph in the video above that tracks the supply of homes for sale, using a metric called active listings. Active listings essentially reflect the number of homes available on the market at any given time. The blue bars in the graph represent data from more normal years in the housing market. However, it’s essential to note that the last couple of years are not included in the graph due to the pandemic’s significant impact on the real estate industry. The orange bar in the graph shows the current year, and it’s evident that the housing inventory still lags far behind that of more normal years.
With such low supply in the market, sellers are now finding their homes in the spotlight. Selling your home in these conditions means faster sales and more attractive offers. In some instances, homes are receiving multiple offers within days of being listed. For example, we recently put a home on the market in Louisville and received a staggering 11 offers, with some even exceeding the list price. The heightened demand and scarcity of available properties are driving prices up, and this trend is predicted to continue in the coming years.
If you’re considering a move, this might be the ideal time to act. To get started, feel free to contact us for a no-obligation, free consultation. Our team can guide you through the process and help you navigate the current market dynamics. We can also assist you in finding your next dream home without the pressure to move until you find the perfect fit.
If you’re intrigued by the opportunities in the real estate market, we invite you to call us anytime. We’d be happy to discuss your options over the phone or meet with you in person. Remember, our services come with no obligations. For more valuable insights and answers to your real estate questions, tune in to our radio show on 840 WHAS every Sunday morning from 8:30 to 9 a.m. We look forward to helping you make the most of the current housing market!