Citing several sources, Keeping Current Matters recent blog post highlights seller confidence in the current real estate market. The post notes, “…we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers.”
Housing market inventory has remained low compared to the number of buyers seeking to purchase a home over the past few months. This has left buyers with limited options. This has been particularly true in the Greater Newburyport area of Massachusetts and the Seacoast area of New Hampshire.
For example, the Seacoast NH real estate landscape, according to the Seacoast Board of Realtors July sales report for single-family and condominium home sales saw an inventory shortage of 45.8% compared to last year.
Seller confidence is improving as houses continue to sell quickly and inventory remains below what is needed to keep pace with the market. With less competition, many sellers see an opportunity in the current market to secure the best price for their property.
Buyers remain ready to take advantage of low interest rates, and will be watching closely in areas where they are looking to buy their dream home. While they understand current demand and inventory are still unbalanced that is not stopping them from looking.
If you have been thinking of selling, now may be the perfect time to talk with a realtor about your options.