Our local home prices are in record territory – won’t that draw out more home sellers? Greed is good!
But lo and behold, so far we’ve had fewer new listings!
NSDCC New Listings, Jan-Feb
| Year | ||
| 2013 | ||
| 2014 | ||
| 2015 | ||
| 2016 | ||
| 2017 |
The median list price has gone up 37% since 2013, yet fewer people are listing their home for sale!
It’s enough to drive buyers crazy, especially when you see homes flying off the market that were listed at prices you thought were too optimistic.
Buyers – don’t panic, relief is on the way. Last year, we listed 516 houses for sale in March, so we should see a steady flow of new offerings this month.
If you are looking at homes under $1,500,000, expect competition. You might lose a few before you land one!
Get Good Help!
I wonder if the issue with so few sellers is that many of them are still underwater or have so little equity left, that selling and “moving up” in California just doesn’t pencil out. At least for those that wish to remain living in California. For those that want to cash out and move out of California, now’s never been a better time!
Cash out that lottery ticket and move to the desert!