Today we’re taking a quick look back at the 2016 market to see what we can expect moving forward in 2017.
Today we’re taking a quick look back at the important things from the 2016 real estate market and what you can expect going forward.
In 2016, we had a great year in real estate, but sometimes buyers had a bit of challenge finding homes thanks to low inventory. Sellers, on the other hand, were able to get their homes sold very effectively. Inventory is at an all-time low. Homes in the $150,000 to $200,000 range are selling the quickest, but homes priced above $300,000 can take up to a few months to sell. If you’re planning to sell your home that’s valued in this range, you can expect to wait a little bit.
This is because we ended up having such a low overall inventory that builders came in wanting to make the most money possible, so they built on the higher end of price ranges. That left us with a higher supply in the higher price ranges.
If you’re thinking of selling, though, right now is a great time regardless of your price range due to low inventory. As we move into the spring and the rest of the year, we will see more and more people who wanted to wait for after the holidays start listing their homes for sale. Some will go under contract quickly, but overall, you’ll face more competition as a seller.
If you can help it, don’t wait for the spring to sell.
If you have any questions for me, you have any topics you’d like to learn more about, or you’re thinking of selling your house soon, give me a call or send me an email today. I’d love to help you!