REAL ESTATE STATS AND THE NEED FOR HOMES

Unless you pay zero attention to the news and never talk to anyone, you are probably aware that we are in a housing shortage. The buyers are many and the options are few. How big of a problem is it? Let me share a few statistics. Last month we had almost 53% fewer active listings than one year ago! Yet, we sold more homes than a year ago – almost 10% more. If that sounds like a buying frenzy, you are right!

How does this affect you? Well, if you are a buyer or potential buyer, you need to realize that it will be some work to find the right home and craft the right offer. You also need to be prepared for rejection. You will submit offers on homes…good offers…and they will get rejected. This is a fact of life right now. Your best weapons are: a good loan officer, be in a good place mentally, and have an excellent Realtor (like me!) who can help you navigate the process.

If you are thinking about selling your home, stop thinking and do it! Median prices are up on every single type of home except townhomes with 4 or more bedrooms (and that is only about a 3% drop in price). The number of days on market are down! In other words, you can sell for more money and in less time. Concerned about moving to another home? You can ask for settlement to be months from now or rent back the house or make the sale contingent on you finding a home or a little of all three! The best thing to remember is: Rates are lower than they have ever been and prices are higher. The proceeds from your sale will give you more options than ever before.

Even after these statistics are you are still questioning if this is the time to sell? Or concerned that your house is not “ready”? Email me and let’s talk about it. I will do the research and show you all the sales statistics on your specific neighborhood and we can discuss it. The old saying is true: Information Is Power.

Published by staceyalleyrealtor

I moved to Harford County in 1993 and fell in love with the area, it's location (so close to Baltimore, Washington, DC, and Philadelphia), and it's people. I have spent over 20 years in the Real Estate industry - mostly educating people so the process isn't so scary.

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