In the last 30 days, 9 homes have sold in Metamora at an average price increase of 17.8% over last year at this same time and sold within 26 days on market. 18 new listings in the same time frame at an average price of $336,000.
If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!
Buyer Demand Continues to Outpace the Supply of Homes for Sale
The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:
“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.
That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”
Current homes for sale in Metamora.
The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.
The chart below details the year-over-year inventory shortages experienced over the last 12 months:
Anything less than a six-month supply is considered a “seller’s market.”
Bottom Line
Let’s get together to discuss the supply conditions in our neighborhood so that we can assist you in gaining access to the buyers who are ready, willing, and able to buy right now!
Watch this short video on “Thinking Of Selling? Act Now!”
Donald Horne, Broker / Owner | Team Success Listing LLC
810-338-0628 | teamsuccesslisting@gmail.com
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