Spring is in full effect with a 2% rise in inventory in one week. Not a bad start to the higher selling season. We typically see a spike in March that is more substantial, it appears that the selling season is “bullish” with a mid-February uptick of inventory. We’ll remain on high alert to watch inventory to let you know if the sales stay just as strong or if we are seeing a glut of inventory starting to sit. Higher priced homes should listen to the market if they aren’t seeing significant interest in the first 21 days.
This signals great news for buyers, similar to what we reported last week. More homes to choose from than we have seen in several years. Remember, the well priced and nicely updated homes will still sell quickly with multiple offers.