Market Flash Update

Throughout the year the market noticeably fluctuates but there is always a little more excitement in the air when Spring comes around. In most areas this is the time that sellers will really try to show off their home. Nicer weather brings happier home seekers. It is much easier to picture that new home when it sits against a backdrop of fresh grass, spring flowers, and brilliant sunshine then it is to see yourself in a home surrounded by the wear of cold, grey clouds, and a sleepy landscape. It is no surprise that the Market in Spring is HOT.

According to realtor.com’s Jonathan Smoke,”…this spring is shaping up to be the best spring so far in this housing recovery.” By reviewing web activity and keeping track of new listings that come onto the site for the first three weeks of the month, he is able to conclude that “Demand is strong—traffic, searches, and listing views are up substantially over last year, … and while inventory is growing, supply is not keeping pace with demand, and so homes are selling more quickly and commanding higher prices.”

Another bright side to this Spring is that the average amount of days on the market is 73 and continues to decline sharply so houses are selling more quickly. As we get closer and closer to summer, percentage of inventory starts to rapidly climb.

With that being said there should be no argument that the Spring Market is in the air! Now is definitely the time to think about buying your new home or selling your old one!

Dawn Heilbrun