Spring Market Looks Great
Across Southern Wisconsin real estate sales are significantly ahead of last year. The overall market is showing a 25% increase in the number of homes sold verses the same time period last year. We are once again assisting home sellers negotiate multiple offers on their homes within the first few weeks or even days of the yard sign popping up. The number of new listings coming to the market is relatively similar as compared to last year, which with higher sales is helping to reduce the inventory of available homes for sale by over 10%. Rising consumer confidence and record low interest rates are the primary two factors contributing to the increase in home sales. However, slow job growth and the overall economy has lead to a 4% decease in the average sales price of homes sold through April and the inventory of distressed properties yet to be released into the market will keep pricing down through 2012.
What does all this mean? Buyers now have a sense of urgency that has not been seen in years and the increase in the buyer pool helps reduce the time it takes a seller to sell a good-conditioned, fair-priced home.
Want to learn more? Click here to learn about why now is the time to buy verses renting, increasing demand, surging short sales and so much more.