A typical question that we are often asked. How is the market? Our typical response is it depends, are you a buyer or seller? Why? Because our answer and explanation will depend on which side of the fence youre on. Buyer or seller
Right now, the easiest way to explain the market is White HOT. Houses are selling QUICKLY and prices are increasing! So lets take a quick look to see why.
Weve outlined the main indicators as to why the market is so hot right now and why we think it is a great time to sell your home!
- Sale prices are trending up. The graph above clearly shows how far prices for Buena Park homes have moved up in the last few years (green bar).
- The amount of active listings are trending down and currently extremely low (blue bar). Our market NEEDS more listings!
- A combination of historically low interest rates, mortgage insurance becoming less expensive and low down payment options has created a new surge of first time buyers. The mid 20 to early 30 year olds (aka Millennials) have entered the market in large numbers as first time buyers.
- The high demand and low inventory is creating bidding wars once again. Just this last weekend, one of our buyers had his offer accepted. He was one of eight buyers and the property had only been on the market for 8 days. Our sellers are receiving multiple offers in the first week of being listed as well!
Still have questions? We have answers! Thinking about selling? Let us show you how we sell homes for highest amount, in the shortest time, with the least amount of hassle. Our marketing strategies are proven to net the best results and completely unique. We would love the opportunity to meet you in person and speak further. Its free and there is never any obligation.
Dustin and Leah Wise
The Wise Team
Keller Williams Realty
BRE #s 01762984 01520106