The HAR February numbers are in!
Here are the year over year stats from last month.
New Listings Are Up 16.3%
Active Listings Are Down 15.1%
Average Prices Are Up 10.6%
The market is so tight we have clients offering anywhere from $25,000 to $70,000 over list price on some homes in high demand areas and still not getting homes under contract right away. The inventory shortage is causing home prices to go up even more in the past month.
Lately we have seen more buyers waiving Option Periods (inspection periods) and nearly everyone is waiving appraisals in order to get properties under contract.
Buyers are wanting to nail down houses before interest rates go up anymore so the summer rush has started in February!
It's a very interesting market right now!
If you have a plan to sell your home or buy a new one (or both!) this spring or summer please give us a call today so we can help you plan and prepare.
Want to know more about how our team works?
Click HERE for our seller info package.
Click HERE to see our current listings.