That time again!!!
Months Supply of Inventory – 2 years/monthly. What a GREAT summer we had. BELOW 4 months spring and early summer. Rose a bit this winter, but it ALWAYS DOES. Dec 2011 we had OVER 8 months inventory waiting to be sold. Dec 2013, 5 months!
Supply and Demand, Quarterly for 3 years – these are EASY trends to follow. Less listings, more sales. And still trending. Available listings is DOWN 15%, Under Contract UP 33%, Sold UP 44%.
Days on Market, Quarterly for 3 years. YIPPEE!!!! We were all the way down to 70 days last summer. Comparing to 80 and 90 days 3 years ago. We've improved SO MUCH (19% improvement).
Realty Worlds TAKE: Listings are SELLING! Well. We've not run out of homes for sell, but on AVERAGE homes are moving much faster. We are SLIGHTLY a sellers market. Our clients should expect a little more money, and buyers wanting to steal homes could be disappointed.
Realty World also thinks a buyer who waits to make an offer, could miss out on the home they want. NO – this isn't like Phoenix or Vegas (cash buyers with 3 offers in the first week under $200,000), but we are Healthy. Listings are moving well, and buyers need to have realistic expectations about “Low Ball” offers.
Visiting with Local lenders, the word is out. Bond money is back for 1st time Buyers.
Upon qualifying here it is...'YIPPY"
4% Borrower Cash Assistance for Down Payment and Closing Costs
30 year Fixed high loan to value ratio (FHA, VA, USDA)
First Time Home Buyer (no ownership in 3 years)
Income cap – 1,2 people $64,800; 3+ family $74,520
Crystie Macormac--Broker Associate
Realty World Alliance
316-990-5944
cmacsellhomes@gmail.com
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