In 2016, we saw a flurry of activity in the Johnson County, Kansas real estate market. Homes were being snatched up in less than a day on the market and many times over list price. Inventory hovered around a 2.5 month’s supply for the better part of the year. Homes priced below $350,000 were the most in demand, while above that mark the inventory started to balance out a bit.
2017 is starting out much the same way. Currently, there is only a 1.5 month’s supply of active homes on the market. Less than that in price points below $300,000. What does this mean? NOW is the time to sell, across all price points. Buyers are still out looking, but the sellers need to get out there! My team is actively looking for motivated sellers. Are you one? If you are looking to move up in price point, you are in a sweet spot as the higher the price the more the inventory goes up. You could potentially sell in a seller’s market and buy in a buyer’s market!! What a deal! And, interest rates, are staying low. The slight increase recently imposed by the Fed, is not statistically significant enough to affect buying power in a meaningful way. Plus if moving up in price point, the potential buyer’s market may even that out.
If you are considering selling, call us today for a free market analysis of your home and what you will be looking for. We would love to help you take advantage of the market with the experience you need!