Is winter the right time to list your home or property?
Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.
Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand.
At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year.
Trulia reported that in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop weve seen since Q2 2013.
Here is a chart showing the decrease in inventory levels by category:
The largest drop in inventory was in the starter home category which saw a 19% dip in listings.
Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2018, now may be the perfect time.
One step toward making a decision in our competitive market would be to download the latest Metropolist Magazine, which shares trends for our local market, but also gives neighborhood data and even a few stories of interest. Data compiled in our magazine covers the last 6 months of 2017.
The 2nd step?
Review the magazine with your trusted Metropolist broker.