If there was ever a time to sell your home, it's NOW! Inventory in the metro area is near the lowest it's been in years. Homes are selling fast and for more money than before.
You can find countless articles regarding the national record low housing inventory, but just to give you an idea, here are some local stats from the Southwest Iowa Association of Realtors MLS.
ACTIVE listings are down -16.7% compared to March 2016
SOLD listings are up +5.8% compared to March 2016.
AVERAGE LIST PRICE is up +10.33% compared to March 2016.
AVERAGE SALE PRICE is up +15.4% compared to March 2016.
AVERAGE DAYS ON MARKET is down -19.7% compared to March 2016.
What does that mean for you?
SELLERS: Sell now! If you were considering a move in the next few months, you may want to consider getting your home on the market sooner rather than later.
BUYERS: Get Pre-approved and be ready to pay over asking price. With inventory so low, homes are selling within a couple of days and often for over list price. You have to be ready and willing to go after the home you want right away. Waiting until the weekend to look at home won't work in this market. Make sure your agent is emailing you new listings as soon as they come available to ensure you are catching the good ones in time..