As we enter the winter market there is good news for buyers. Inventory is growing and interest rates have not increased. It's a great time to think about buying that home you always wanted.
While property values are increasing monthly, if you've wanted to sell but didn't because you think you're underwater with your home loan, now would be a good time to find out. A large number of sellers are pleasantly surprised to learn they won't have to short sale their home now. Are you one of them? Homes are selling, in some areas within days and with multiple offers. If it looks good and it's priced right it's selling.
Whether you're thinking of buying or selling you owe it to yourself to get the facts.
While the numbers below show a dip in the average sold price from the previous month, the average sold price is actually up approximately $70,000 since the beginning of this year! You'll also notice the average days on the market have significantly dropped as our supply tightens and demand continues to grow. New homes are hot right now, filling in the gap for the short supply of resale inventory.
I want you to remember that interest rates are still very low, which helped stimulate our economy and the housing industry to spur the recovery from the bubble burst. It's great to see we're bouncing back and if you're thinking of selling or moving, now may be a great time for you.