Inventory Plummets in Dublin Ranch, Giving Home Sellers the Advantage.
If you thought it would never happen again, you were (happily) mistaken… It’s a Strong Sellers’ Market in Dublin Ranch again as inventory plummets in the area! Putting a home on the market with a reasonable asking price is inevitably causing a bidding war, driving selling prices above the asking price as home buyers clamor for homes that are seemingly few and far between. If you’ve been thinking of putting your home on the market — it’s time to do so!
Over the course of the last 12 months, the number of homes on the market has plummeted while the number of buyers has strongly increased. Last year at this time, there was over 2.5 months’ inventory — today that number is .3. That’s about a weeks’ inventory!
For those who don’t follow this blog regularly, the “Months’ Supply of Inventory” (Page 10 of the report we’ve linked to below) measures the “velocity” of the market, or how fast/slow buyers are buying the homes currently offered for sale. In other words, if no more homes came on the market after today, it would take [this long] before we would run out of home to sell. Typically, anything less than 45 days is considered a Strong Sellers’ Market. How much more of a sellers’ market is it when that number drops to only one to two weeks’!
We have specific marketing strategies to help home sellers leverage the market to get most money possible for their home. If you’d like to talk about that, Contact Us today!