Thursday, December 19, 2019 / by Connie Tracy
What's happening this week now that the cold has set in and winter storms are in the forecast? The market has slowed down and there are more homes sticking around on the MLS (Multiple Listing Service) depending on the price range.
It continues to be a strong sellers' market. There are 1.5 months worth of inventory. What does that mean to you? If there weren't any more homes listed, we would run out of homes in a month and a half. So even though there are more homes on the market, there are still not enough for all the buyers out looking.
Currently, there are 1,476 active listings and out of those, 834 are in escrow. There are only 642 homes that are actually available with a 57% ratio. Remember these are single-family homes that are stick-built and listed by a Spokane Realtor. Holy cow! That is not much out there for buyers to choose from. As a matter of fact, there are still multiple offer situations and homes are selling just as quickly as when they come on the market.
So, if you are thinking of selling your home... THIS IS A SUPER TIME! Less competition means you have an excellent outlook for selling your home quickly and possibly even at a higher price then listed. Of course, this does depend on the neighborhood, price point, and home. But if winter is too much for you and you aren't quite ready to list your home, then look at getting your home on the market early Spring... February or March is the best time so you can beat everyone else when they list their homes in the summer.
Have a wonderful holiday! I will be off enjoying my family in Vegas and then onto a cruise to celebrate my birthday! I will be back with more market updates and my predictions for 2020 after the new year. Until then...
Merry Christmas and a joyous New Year to you and yours! Fa la la la la la la!