The market had an 8% drop off of inventory in the past week. This almost corrects the 10% bump we had following hurricane Harvey this fall. We are seeing days on market tick up on inventory that is priced even just slightly above market value. Make sure to watch the first 7-10 days on market very closely and if offers aren’t coming in or interest isn’t strong enough, make sure to correct pricing quickly.
With buyers, we’re seeing more negotiation room, but not always as it seems. Be sure to ask your buyer agents for the most current negotiation trends we’re seeing. Price isn’t always the most impactful place we can get you a deal. We are also seeing homes that have been sitting on the market all of the sudden go under contract – this doesn’t mean the other Realtor is being shady, it could mean that timing and pricing just worked out to create demand at the same time you’re seeing it. If you like the home, don’t sit on the decision too long and make sure to lock the home down with an executed contract on it. Heartbroken clients break our hearts too!
We anticipate a strong spring market and look forward to growing your net worth as our client.