April 2017 Market Update

April 2017 Market Update

Now is the Time to Sell!
Earlier this year we told you it was a good time to sell a house.  Low inventory, strong market demand and an early spring created the right conditions for a strong sellers market.

Inventory and demand have not let up! Add to that a drastic increase in sales and reduction in marketing period and it is arguable the best time to sell a house since the mortgage crisis in 2008.

If you’ve been on the fence about selling, now is the time to give us a call, 215-757-7257.

There has been a 16% increase in sales compared to 2016.
Inventory may be low, but that’s not deterring buyers.  Year over year sales have increased 16%.  Increased sales weren’t the only good news.  Median Sold Price on these sales was up 4% compared to March 2016 and has reached a 9 year high. 

There were 15,000 more showings this March compared to March 2016.  Combine that with the decrease in inventory and the ratio of showing appointment to active listings was at an all time high of almost 6 to 1.

Considering not all active listings are appealing to buyers that ratio is likely much higher when you factor in highly sought after neighborhoods and price ranges.

There are 10% fewer listings compared to 2016.  There were 5,000 fewer listings this March than were available last March.  While that might not sound huge, consider this: listing inventory has not been this low in the peak spring market in over a decade.

The bottom line is: Consumers are ready to buy, they’re willing to pay a higher price, and they’re eager to view more properties.  Now is the time sell! 

To learn how to sell for the most, come to our next Home Selling Seminar at the Sheraton in Langhorne on May 4, at 6:30 pm.  

April 2017 Market Update