The number of houses, lake homes and recreational property for for sale today is significantly lower than the high buyer activity in the current housing market. According to Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“There is no shortage of hopeful, potential buyers, but inventory is historically low.”

In our local market, we are seeing low inventory in residential homes, lake homes and cabins as well as hunting and recreatioanl land.  When the demand for property or homes is higher than what’s available for sale, it’s a great time for sellers to sell their property. Here are some ways low inventory can be a huge win for sellers:

1. Higher Prices

With so many more buyers in the market than property available for sale, buyers are frequently entering into bidding wars for the property or house they want to purchase. This buyer competition drives prices up. As a seller, this can definitely work to your advantage, potentially netting you more for your property.

2. Greater Return on Your Investment

Rising prices mean recreational and hunting property and homes are also gaining value, which drives an increase in the equity you have in your property or house.  This year-over-year growth in equity gives you the ability to put that money toward a down payment on your next home or to keep it as extra savings.

3. Better Terms

When we’re in a sellers’ market like we are today, you’re in the driver’s seat if you sell your . You proeprty or home.  Sellers have the power to sell on your terms, and buyers are more likely to work with you if it means they can finally move into their dream home.

So, is low housing inventory a big deal?

Yes, especially if you want to sell your property or house at the perfect time. Today’s market gives sellers immense negotiating power. However, it won’t last forever, especially as more sellers return to the housing market next year soon. If you’re considering selling your property or house, the best time to do so maybe right now.

Bottom Line

If you’re interested in taking advantage of the current sellers’ market, let’s connect today to determine your best move in our local market.