A flip was switched about a week or two ago. The market turned on.  We have had more calls and offers being written and submitted than the last 3 months. The market has turned that “Spring” corner. So if you are thinking of when the best time to put your home on the market or go buy, it’s now! Let’s look at the details. . .

DEMAND: Demand is keeping pace with February of last month, with 306 homes sold in February of 2015 and 302 this year.  While this is relatively slow and normal for this time of the year, we do expect to see a big increase in demand in March and have already started to see and feel it. In fact EVERY SINGLE ONE of the 11 homes we put on the market in February sold already.   Last year we saw a solid 46% increase in demand between February and March. Things are heating up.

SUPPLY AND INVENTORY ACCUMULATION: There is slightly more homes for sale than this time last year, however the inventory accumulation is very slightly less.  This means that there is slightly more demand than last year.  One factor in this could be interest rates with them sitting between 3.25% and 3.75% depending on qualifications and program. It seems, based on this information so far, we are set for a similar year to last year, which was very tough on buyers but good for sellers.

SOLD TO LIST RATIO: This is the one anomaly in this data that may hint at the slowdown we’ve been expecting for the last 6 months. The average last month was about 93.6% where last year, during the same month it was about 95%.  This could be just that some higher priced homes sold, which typically have a much lower ratio or it could be that sellers aren’t getting as high of offers as they’d like and they are getting less. Only time will tell.

RATES: Right now rates are much much lower than anyone ever anticipated them being. While this may seem like a good thing, especially for buyers, it indicates that the “powers that be” are trying to keep the economy moving. We’ve heard from more than a few economic experts that a slow down is coming, it’s only a matter of time.   So, now is the time to take advantage of the lower rates.

CONCLUSION: The market is heating up, no doubt!  There are lots of multiple offer situations already and there are not enough homes for most buyers to choose from.  No one knows exactly what the future holds and from where we are sitting right now, it seems like a great time to be selling a home.

On the Buying side, we have some very effective tricks up our sleeve to help our buyers find the best home for them that others do not take advantage of.  If you are considering a move, especially if you have a home to sell, call us! We can help you make the best decision for you and your family!  484-696-4833.