The New Year is off to a quick start in the real estate world. Is buying or selling a home one of your New Year’s resolutions? It’s time to get started! December median home prices in our area were the highest on record, up 4% from last year, but relatively stable since November, up only .08%. Inventories are typically low in the winter months, which is compounding the already very low inventory trend we are seeing in this area. Inventories are still 15% above the all time low in 2012, but below the 5 and 10 year averages.
Buyers are still quite active. We have several clients right now waiting for inventory to hit the market in the next few months to make a move. Buyers and sellers alike may be feeling the pressure to move while interest rates have, perhaps temporarily, leveled off since the increase that began in late October.
I know we have been saying this for months now, but it’s a great time to sell! If you are able to be flexible with your move plans, don’t wait until spring- talk to us about getting ready to go on the market now. Sellers, our experience shows that February is a great time to list – often resulting in multiple offers!
Buyers, get ready for the spring pop in inventory by educating yourself about the home buying process, and getting pre-approved with a lender. We are hosting our popular First Time Home Buyer Class next month, details below and work with some fantastic lenders, so ask us for recommendations based on your goals and circumstances.
We need reviews! If you’re a past client, don’t forget to leave us a review to be entered into a drawing for two free Caps tickets (they’re doing great, by the way)!
Upcoming First Time Home Buyer Class
Tuesday, February 21st, Capitol City Brewery Register Here
As always, if you or someone you know has a real estate need, we’re here to help.
The Wethman Group