How refreshing it is to see our fall desert weather cooling, opening doors and letting the fresh air in, I love this time of the year.
Our real estate market continues to chug along in a positive direction. No big changes over the past couple weeks, and our inventory (the amount of homes on the market) had dropped over the summer giving our market a new much needed shot in the arm. As the weather cools and people are thinking ahead, the market is currently tipping again toward more listings than sales. This was predictable, and as the market continues to improve we will continue to see people taking advantage of these times in an effort to achieve their real estate goals. Whether it be stepping up to a larger home, stepping down to a smaller home, moving out of the desert, and with the markets appreciation many sellers that used to be under water with their mortgages can also sell now. There are a bunch of reasons as to why there are many people that are now ready to sell and move. As an example… I alone, as of today have agreed to take 21 new listings that will be hitting the market over the next 60 days.
Over the summer, many days the amount of sales exceeded the amount of new listings coming on the market which drew high levels of inventory down, in addition to some high-end sellers removing their homes from the market for the summer which gave our market some new momentum. As I’ve stated before I expect to see a large seasonal inventory spike come Jan – Feb 2015, so now is the time to beat the competition and get your home SOLD. I’m hoping seasonal buyer demand is high so we can get your home sold quickly, and sell the standing inventory… especially those home sellers above the $1.2M price point, many of which have been frustratingly sitting unsold simply due to low levels of demand.
I’ll be updating again at the end of the month, until then get out and enjoy our beautiful fall weather.