The real estate market is incredibly hot for homes priced under $300,000. These homes are driving the market right now. Here are some of the statistics:
- Showings are up 15% from February 2015 and 15% from this past January.
- The showings in February were the highest number of showings ever.
- Inventory is really low. Resale inventory is down 14%.
- New home inventory is trying to make up for this because it is up 17%.
- There is a significant shortage of homes for first time home buyers and people looking to downsize.
- An amazing statistic, 58% of homes that came on the market in February 2016 are either under contract or closed! The average price for these homes was about $250,000.
- On another note, there was a 27% increase in expired listings. The average price of these listings is $450,000.
- If you are in this category, Real Estate Experts can help. We are experts in pricing and positioning homes for sale. Contact us at 919-928-5131 or email us at [email protected]