There is a good chance you've been hearing about how hot the real estate market is. Like many homeowners, you might be considering a move but you've been waiting for the right time. As a real estate professional I'm thrilled to report a positive outlook for those who are thinking about selling.
Below are statistics that indicate it may be a sellers market.
- According to the National Association of Realtors inventory of available homes has decreased 7.1% from January 2016 to January 2017. In January of 2017 there was a 3.6 month supply of homes, this is below the 6 month supply that many real estate professionals consider normal.
- The number of homes sold according to the National Associations of Realtors was 15.4% higher in January 2016 to January 2017, this dramatic increase in sales signifies a hot real estate market. Additionally the number of homes for sale during the same time period is 8% lower. Fewer homes for sale generally indicates a sellers market.
- Additionally the National Associations of Realtors reported that single family home prices nationwide have risen 7.1% from January 2016 to January 2017.
I am sharing this information with you because inventory in Toledo and surrounding areas is low, and I am hearing from agents and prospective buyers that they just can't find what they are looking for.
If you've thought about selling please give me a call. I'd love to visit with you for a no obligation and no pressure consultation.