March’s Months Supply of Inventory on the Eastside is down 36% year over year. Wow! Very rarely do I ever see the inventory map with so much RED! Obviously, it is still a “Seller’s Advantage” market. On average, there is just 1.18 months of active home inventory available to buyers, causing a shortage of homes and allowing Sellers to have the upper hand.
The demand from buyers is still evident. In fact, multiple offers are still the norm when a home is priced right and shows well. Despite low inventory, pending sales are still up 5%! Since prices have increased slightly, I encourage sellers to get “off the fence” if they are ready to relocate, downsize or upsize.
In this changing market, I am here to help! Don’t hesitate to contact me if you would like more statistics or a full market analysis for your specific neighborhood.
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