Multiple offers, sold before the on the MLS, buyer needs emails internally…Inventory levels are low – real low right now. However, we are starting to see the Pre-Spring Market come into play. According to the St. Paul Area Association of Realtors (SPAAR), we are seeing an uptick in inventory as of last couple of weeks:
However, when we examine where we are at today with regards to previous years worth of inventory, check this out:
We are entering into 2016 with the lowest amount of inventory available for the past 12+ years! Based on the activity levels we are seeing right now in our marketplace, if I had a home to sell – I would get it into this market as soon as possible. If I was buying a home, I make sure I had my ducks in a row with financing, agent and have my templated letter ready to send with every offer talking about how much you love the home and will take care of it. The little things matter in a competitive market like this. Any edge you can gain, is important and necessary.
Based on early indications, it looks like our Spring Market is going to be similar to what we experienced last year which was very good for sellers and extremely competitive for buyers.