Dear Homeowner, There is a good chance you’ve been hearing about how hot the real estate market is. Like many homeowners, you might be considering a move but you’ve been waiting for the right time. As a real estate professional, I’m thrilled to report a positive outlook for those who are thinking about selling. Below are statistics that indicate it may be a seller’s market.
- According to the National Association of Realtors, there is currently a 2.3 month supply of available homes for sale. This is far below the 6 month supply that many real estate experts consider normal. Fewer homes for sale generally indicates a seller’s market.
- The number of homes for sale is 41% lower than the same time one year ago and the average number of days a home is on the market is only 17, which is historically low.
- Additionally, the National Associations of Realtors reported that single-family home prices nationwide have risen 19.1% year over year.
I am sharing this information with you because inventory in El Paso, TX is low, and I am hearing from agents and prospective buyers that they just can’t find what they are looking for. If you’ve thought about selling please give me a call. I’d love to visit with you for a no obligation and no pressure consultation.