Every week we evaluate inventory and market activity. We’re noticing more multiple offers already than what is normal for the month of February compared to the last 10 years. What this means for the next year? Be prepared for the well priced, most updated properties to have multiple offers. We’re constantly adjusting our tactics to help our clients win in multiple offer situations. While price is obviously a determining factor, we have helped several clients beat out other offers that were higher than theirs. It helps to have a well connected real estate team who knows a lot of the other Realtors in town. Our reputation and history of success definitely help in a market where who you know and what you know makes a difference.
We had a few sellers ask us if they should wait until April or May to go on the market. We had a 1% dip in overall housing inventory this past week compared to the week prior. This is an indication that inventory continues to be tight, so being active on the market earlier in the year is important. Knock on wood – we also haven’t seen the normal appraisal issues that happen this time of year. Let’s hope this continues. (knock. knock.)
Fingers crossed we can continue the real estate love all month long.