| Opportunity Points to Best Selling Time in a Decade. What’s Really Happening?
The economy and opportunity point to the best selling time in almost a decade.
Arrowhead Woods is up in 8 of 16 sales categories. It is worth reviewing the reasons! This is a seller’s market without a rising seller commitment. Two years ago in September 2014, we saw a median price of $349,750 with 401 homes for sale. two years later, we now have a median price rise of 8.3% to $379,000. A nice increase… but why not more?
LOW INVENTORY. LOW SELLER or LOW BUYER INTEREST? Either or both the culprit?
Home inventory has dropped 15% in the past two years. It might seem logical to expect prices to rise sharply, across the board. As pleasing as an 8% rise might seem, it took two years.
Buyers searching for their dream vacation home have fewer home choices.
It takes deep pockets to move up a price bracket in steps of $100,000 just because the most you can tour is 30 or 71 or 56 homes for sale over a price range of $300,000.
Sellers continue to hesitate even as 42% of homes sell within 60 days, and another 28% sell in the next 60 days. Vacation homes are more than 80% of sales, most furnished, ready to move in. In addition to higher demand, agents are enthusiastic to present a doll house, cream puff and clean and sharp homes, as they sell first. Opportunity is knocking. Is anyone listening???
The economy and Bob’s Opportunity Index points to the best selling time in almost a decade.
2000 to 2006 Sales about 600 a year. 2007 to 2016 sales struggle for 400 a year.