Just when you thought it couldn't get any lower . . . geez!
The inventory of homes for sale is by far at it's lowest level in the past 10 years. This is very frustrating for buyers. That 'dream home' just may not be on the market. There isn't that much to pick from. Buyers who are ready to buy now are having to make compromises.
When a really clean, nice house comes on the market, it is selling pretty fast and at a pretty good price.
Check out this chart showing housing inventory levels from 2004 to 2014. It's a little hard to read, but each indicator across the bottom of the chart is a year . . . from 2004 to 2014.
The average months' supply of inventory for the first quarter of this year is only 6.3 months . . . which is a very low level. Here is a chart showing the historical number of months' supply of housing inventory.
What does this mean? Well, if you have a nice house in a desirable neighborhood and you price it reasonably, you should be happy with the outcome. It will probably sell pretty fast, and for a price and terms that will be fair for both parties.
Check out the full Market Indicators Report provided by the Youngstown-Columbiana Association of REALTORS® by clicking on the Attachment below in the status bar.
Contact Us. We're always available to answer your questions and help you make informed decisions.
| Attachment | Size |
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| columbiana_mahoning_mmi_2014-03.pdf | 715.13 KB |
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All information is believed to be reliable, but is not guaranteed and should be independently verified with a real estate professional. CENTURY 21 Lakeside Realty Is a member of the National Association of REALTORS® Equal Housing Opportunity.