Not exclusive of the residential real estate market, the price of any item is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
Historically, the supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory in 2018:
Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense. THE BOTTOM LINE: Buyers in the market during the winter are truly motivated purchasers and they are more likely to want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.
Contact me today so I can effectively market and sell your home before the competition creeps in.