What You Can’t Get in LoCo Today
Don’t know about you, but we’ve had enough of the polar vortex! March is three days away and it’s time to get on the ball fields. All this cold weather is certainly having an affect on our real estate market too, let’s take a look at what isn’t for sale in LoCo…
Over the last month we’ve written about what you can get at the various price points. During that stretch, the inventory of available homes has actually dropped by 16 homes. As of this morning there are only 660 non new construction homes active in the multiple listing service. To give a little perspective on that number, 822 homes have been listed for sale this year while 701 have gone under contract.
Going over the numbers a little closer, one segment of the market has really been effected. So far this year 130 homes under $299,000 have gone under contract. As we write this there are only 65 homes available in this price range. That means we have just under a month’s worth of inventory if sales continue at the same pace. As those numbers show, we are off to a slow start this year. Certainly understandable with the extreme cold and amount of snow we’ve had so far this winter.
What does it mean for you? If you have been considering selling your home, this spring would be an excellent time to do so. The first step in the process is determining what you home is worth. We can help there, just request a home value report and it will be delivered to your inbox right away. Not sure if you are ready to sell, email me or call/text me at 571-233-5495 and I’d be happy to offer my opinion on your options.
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About our blog
Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.