Low inventory of available homes for sale in our area is not a new thing. It has, in fact, been a continuing issue for a number of years.
What’s important to note, however, is that it isn’t getting any better.
This is not an ideal situation in some ways, because it reduces the number of options for buyers.
To balance that, however, demand for homes is so high right now, with mortgage rates at the lowest levels for years, plus the extra incentive of the Fed’s recent lower interest rate announcement.
In the Prescott area, demand is also enhanced by the growing phenomenon of people moving here in significant numbers from the overheating market in California.
A situation where enthusiastic buyers are chasing fewer and fewer homes creates a stunning opportunity right now for sellers.
Prices are far more robust when buyers have reduced options. In fact it’s quite common to receive multiple offers and even to ultimately receive more than you were asking for!
Extra market visibility is another factor, with less competition among houses in the same category as your own. This not only improves your chances of a quick sale but also means your home will be noticed by more people, as there are simply not that many homes to view.
So if you’ve been contemplating selling why not contact us at The Hyland/Schneider Team at at 928-445-2100 and learn more about how our market leading home sales performance can help you to make the most of an exciting current opportunity.