Prices are up and up and up! Across the entire MLS for all types of properties (single family homes, condos, townhomes and land), prices have increased by an average of more than $30,000 since a year ago.
Housing Inventory is Down almost 40%!
Last summer, there were around (in the middle of a global pandemic), we thought inventory was low with around 6500 properties for sale at any given time. This summer, there's only around 4,000 properties for sale. Low inventory = higher prices and more competition
As an agent, I'm seeing more multiple offer situations which is good for sellers and stressful for buyers. I'm also seeing more and more sellers push for even more money. At some point, we'll see the market correct itself with buyers pushing back and waiting. I'm seeing appraisals come in lower than the purchase price. One of the biggest factors to being successful as a buyer is how quickly you can see the property and make a decision.
Regardless of your situation, if I can help answer any questions or talk through your circumstances and your plan, please don't hesitate to ask!