When talking about market facts in the Cedar Rapids real estate market, one should always address good old, " Supply & Demand."
Currently, we have 1601 listings in the Cedar Rapids MLS. This is the second lowest ever...only January '12 was slightly lower by just a few homes.
Marion has 229 of those listings and again this is the second lowest ever!
Sellers should think very seriously about putting their house on the market as soon as possible. The cliche spring time selling time will cost you as inventories are low so you can expect more money without so much competition.
Since interest rates are rising for fixed 30 year loan, this should motivate the seller as they become a buyer.
We have seen more and more sellers getting multiple offers on their home when priced right and in above average condition. We haven't seen many multiple offers for a few years. What does this say?
For some price ranges (120-220k) it could very well be a sellers market for you. Don't make the mistake of setting your price too high but we have averaged selling our last few listings in around 45 days.
Ask yourself, will my house be worth more now or in May when rates may go up and for sure we will have more competition.
Call us for a consultation on how to get your house ready and get the most money for it!
Comments (1)Subscribe to CommentsComment