What is happening with the Santee real estate market?
⬇️ Inventory is decreasing
⬆️ More homes are going under contract
Jeremy McHone explains what that means, and if it’s better to buy or sell right now in Santee.
One of the questions I get asked the most is what’s happening with the market right now?
What we’re seeing is for the last four months we’ve been seeing inventory increasing, which hasn’t been great news to people who are thinking about selling. But the good news is that the spring market is here and we’re starting to see for the first time in a few months inventory actually starts to drop.
So we’re seeing inventory go down, at the same time we’re seeing more homes go under contract and go into escrow.
So what that tells us is that inventory’s falling because the homes are going to into contract at a higher rate, demand’s going up. So if you’re one of those sellers that own their homes and just been thinking about getting off the fence and selling, but you’ve been seeing too many homes on the market? Now’s a really good time in the spring market to put your home on the market because now you have less competition and buyers have more buying power because interest rates are at the lowest they’ve been in over a year.
So, you combine increasing demand, increasing buying power from the buyers with a falling inventory, and now’s a great time to sell your home. And if you’re going to sell and buy a new home, you can take advantage of the low inventory when you sell your home and take advantage of those low-interest rates when it comes a time to buy your next home.
If you’re curious about your home’s value or you’re trying to figure out if now is the right time buy or sell? Go ahead and give me a call at 619-971-0791 or just drop a comment below. I’d be happy to answer any of your questions!Search Homes For Sale in Santee