Friday, December 20, 2019 / by Elizabeth Sorensen
Less buyers are out in the cold weather right now as well. For the first time in nearly nine months, we have an uptick in inventory with our current available properties at 1.5 months.
This is still extremely low and many buyers and sellers are wondering where we are at in the housing market as we head into 2020.
We still have a very high pending ratio of 57% with 1,476 active listings to choose from in Spokane County (single-family, stick built homes on <1 acre). So over half of the homes you see on the market already have accepted offers on them.
The buyer pool may be lower this time of year but so are the number of listings. So if you are a seller, you have much less competition. The buyers out there are serious, qualified buyers who need to find a home now. The looks-loos are waiting for spring, so homes are still moving quickly as these buyers are desperate to find a home with this staggeringly low inventory.
If you are a buyer, the good news is that this time of year most people are busy with holiday activities and you are much less likely to have 5-10 offers on every home you look at. Take advantage of this fact and buy a home now before the spring rush hits and competition gets fierce.
If you have any more questions about our housing market and what that means for you, reach out to me!
Haven Real Estate Group