By now you probably have heard the stories about the bidding wars for homes in Franklin and Delaware counties which is a huge turnaround from just a few years ago when it seemed that you had to bend over backwards to get a buyer just to make an offer. There are several reasons for the turnaround but the largest one is basic Economics 101 – the laws of supply & demand.
At the end of March, the supply in Franklin and Delaware counties was only 75% of what it was in 2015, yet sales through March were up 6% year over year. This increasing rate of sales coupled with the decreased inventory has produced a market that is starved of homes to purchase. In fact, at the end of March, there were only 1.7 months of inventory. With 6 months of inventory being a balanced market, 1.7 months is a VERY STRONG SELLER MARKET.
“Great,” you say, “But how do I take advantage of the market?”
That’s an excellent question, and to find the answer you have to know more than what the chart says.
While the overall statistics say that it’s a sellers’ market, there are definitely pockets of opportunity. My team and I pride ourselves on being experts at understanding your particular situation and helping you to find the pocket of opportunity that will give you the best advantage.
In fact, we offer FREE, no obligation buyer and seller consultations where we’ll help you to find your perfect fit whether you are buying, selling or even investing in real estate. Contact us today! After all, Helping You is What We’re Here To Do!