Is it the unseasonably warm weather that is driving the market right now or are there just that many buyers looking to purchase a home? The housing market is warmer than the temperatures outside and it’s only the first week of February!
Last week, while I was out showing houses to my investor client I arrived at a property a few minutes early (I hate being late). While I waited outside of a newly listed underpriced cape cod style home I literally watched 20 buyers walk into this home. My guess would be that half were investors and half were actual buyers looking for that perfect home. Granted as I mentioned the house was underpriced which drove up the demand and interest but the other factor is the inventory of new listings is so low. If we compare January 2016 to January 2017 inventory it is down nearly 2%, and that’s the case for this first week of February. That means that there are 4,000 less homes listed in the tri county area than this time last year!
The industry as a whole is complaining about the lack of inventory. So many people think the “spring market” starts in March or April but as soon as the Christmas decorations come down the buyers come out.
People ask us all the time should we wait till the spring to list or list now? My advice is if you are thinking of selling your home this year NOW is the best time. I have found that sellers get their best price this time of year because the inventory is low which means the competition is less. You can still ask for a longer settlement date. This is one of the few times of the year that a seller can go for a longer settlement. Many buyers do not want to settle until the end of the school year so you will have plenty of time to find a home. It can be a win-win for both the buyer and seller.
The Griesser LaPierre Team is a family oriented team that develops long term relationships with clients and has more than 65 years of combined experience. We have been helping home buyers and sellers alike for more than THREE DECADES!
We have so many buyers waiting to buy. We are actively reaching out to all homeowners that are thinking of selling. Please let us put our proven strategies to work for you. Contact us by email or phone if you are thinking of selling at all this year. [email protected]; 484-995-7730; 610-212-2998.
If you are wondering about that cape cod I showed last week. My clients were able to secure the property in a multiple offer situation. Stay tuned as that home will be listed early summer completely renovated!