Real estate inventories continue to be low relative to demand. As of Wednesday April 5th, there were only 148 homes available on the market for all three school districts. Given the fact that over a thousand homes were sold in those districts last year – according to the East Central Association of Realtors – that is a very small inventory indeed.
For those who are house hunting right now, it is common to see multiple offers on attractive homes that are reasonably priced. We recently had a small home we listed in Fenton on a Friday afternoon. We had 12 showings scheduled by the next day and 18 parties through our open house on Sunday. On Monday, we presented 6 offers to our client!
This is exciting for our sellers but very frustrating for buyers. We are expecting the inventory to grow significantly over the coming month to relieve some of this pressure. In the meantime feel free to contact us for more detailed market data or a free analysis on your home’s value.
We also would love to show you how we can save you hundreds of dollars on the sale of your home and the purchase of your next home!