Recently released data from the National
Association of Realtors (NAR) suggests that a now is a great time
to sell your home. The concept of ‘supply& demand’
reveals that the best price for an item is realized when
the supply of that item is low and the demand for that item is high.
Let’s see how this applies to the current residential real estate market.
It is no secret that the supply of homes for sale has been far below the
number needed to sustain a normal market
for over a year at this point. A
normal market requires six months of housing inventory to meet the demand. The
from NAR revealed that there is currently only a 3.6-month supply of houses on
the market. It is much lower than this in Northeast Massachusetts. We are currently at 2.6 months of inventory which is blow the national average.
Supply is currently very low!
A report that was just released tells us that demand is very strong. The
most recent FootTraffic Report
(which sheds light on the number of buyers who
are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new
Demand is currently very high!
Waiting to sell will only increase the
competition between you and all of the other sellers putting their houses on
the market later this summer. If you are debating whether or not to list your
home, let’s get together to discuss the conditions in our market.
Contact The Militello Team today!
(978) 815-3877 - Joseph
(978) 500-1480 - Kathleen
Put our 40+ years of experience to work for you!!
Keeping Current Matter is the Source of this article.