Inventory is rising locally! What does that mean for us? Here is what you need to know-
We are currently at 4 months of inventory locally.
The real estate market still technically favors sellers. This low inventory level suggests a high demand for homes, creating a competitive environment where sellers often benefit from quicker sales and potentially higher prices. However, the prospect of the inventory expanding to six months signifies a transition toward a more neutral market. As the equilibrium between supply and demand levels out, homes tend to stay on the market for a more extended period, providing buyers with a broader selection and potentially greater negotiating power. The shift from a seller's to a neutral market encourages a more balanced approach, prompting both buyers and sellers to navigate the evolving landscape strategically.
Most up to date market report:
