If you are like a lot of people, you have heard a lot of different information about what is going on in the real estate market. Some agents have told me that the buyers just aren't there or that there is too much competition out there to try and sell a home because of all of those short sales or bank owned homes on the market. (The Prodigy Team's buyers agents are going 7 days a week right now by the way)
Well, today I am going to dispel all of those rumors and show you exactly why right now, TODAY is the right time to sell your home in the greater Tacoma area. Yes, you too Puyallup, Washington, now is the time to sell!
The graph to the right is a bit of what I would call, "nerding out" on real estate. :) What it represents is the raw data for all of the inventory currently for sale in Pierce County, Washington where most of my business in conducted.
Last year at this time, we had right around 8 months worth of inventory. What this means in simpler terms is that, if no new homes came on the market, at the current rate of sales, our inventory would be completely used up in 8 months. (Remember if no new homes came on the market). To be honest, that actually isn't really all that bad. There are a lot of places in the country right now that are hovering around 12-15 months supply.
Check out the end of the graph. Its hard to see, but what the raw data shows is that our supply is down to 3.5 months. Folks this is a massive, MASSIVE deal. It has not been that low since I before I got into real estate in 2007. For two months, the supply of inventory has been below 5 months. When you have 3 consecutive months of any kind of activity, its considerered a trend. A trend such as this is known as a Seller's Market!!! I haven't experienced a Seller's Market yet. I bought a home during a Seller's Market and I have to be frank, its not fun to be a buyer in a Seller's Market because you are competing with Buyers and getting into multiple offer situations frequently. (which is exactly what is happening right now!)
So what does this all mean? It means you need to be partnering yourself with a real estate team that understands the market better than the competition and get your home on that market right now if you want to sell. Don't wait. Now is the time. Contact The Prodigy Team today and let's get your home sold while the market is hot!
Next up: What is going on with the market and why is this trend occurring?...check back in a few days and I'll give my opinions :)
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