Like many other parts of the country, demand is outpacing supply. Even with some new construction in the area, there is still not enough inventory.
Last week, there were 14 homes sold at an average price of $208,486, or $114/sq ft. These homes sold remarkably fast on average - just 45 days! We also had 20 new homes come onto the market. I know what you're thinking. Hey! 14 sold and 20 new listings? That sounds like inventory is repleneshing itself to me.
Au contrere. When you take into account the expired listings, those that went pending (an off-market status), and the consumer-requested withdrawals, we're at a decided net loss. You can download the weekly new listings here and watch this week's update video here.
If you're a seller that's waiting for spring and has the ability to adapt quickly, this is a great time to list. Motivated buyers and far less competition than you'll see in another month or two. Feel free to request a home valuation here.
Buyers, if you're looking for a home in Howell, please consider working with a local, full-time real estate professional (like me) :-). Working with an out-of-area agent that doesn't know anything but the basic geography will not be able to add quality to your home search. And I practice what I preach.
Last year I had 5 outbound referrals so clients could get the best possible service by an agent from the area in which they were interested. Why would I do that? Because I am commited to the best possible service - and because you deserve the best possible service.
photo credit R. Smith