Low inventory is a problem in many markets throughout the country. In a healthy market a particular neighbourhood would have six months of inventory. Many neighbourhoods are seeing inventory as low as one or two months. This means home buyers are not finding the homes they are looking for.
Realtors throughout the country are reporting that the main concern is that there are not enough listings. Some properties are receiving up to 34 offers with some selling for as much as $200,000 over their asking prices. As the spring selling season approaches, now is the time to list if you have thought about selling in the past or may want to sell in the future. Give me a call if you would like to discuss the current market.
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