In the Reno-Sparks market the inventory drops off significantly the last couple months of the year. New listings in November 2016 froms 29.9% from October. This left inventory at the end of November down 17.9% to 1823. As of today there are only 1076 active listings. So this means it’s a great time to list your property with little competition. Many buyers have been sitting on the side lines waiting for more listings to come on the market. If you are considering listing in 2017 the Shocket Team – Dickson Realty can help. Reno-SparksRealEstate.com #shocketteam
As we are about to bring in the New Year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.
The recent jump in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.
Here is a chart showing the decrease in inventory levels by category:
Demand for your home is very strong right now while your competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the time.