SUPPLY AND DEMAND
The best reason to list your house right now is simple- supply and demand. Supply and demand is a basic economic concept that drives the housing market. Right now, in the early part of 2020, we are seeing historically low numbers of houses on the market. It is reported to be the lowest level of inventory in nearly a decade. That, combined with historically low interest rates is creating a huge buyer demand. There are plenty of buyers sitting on the sidelines waiting eagerly for the right house to come along.
CAMANO ISLAND STATS
On Camano Island specifically, January’s statistics show 19 homes sold and 31 pending. That is a total of 50 homes being purchased in the month. However, there were only 28 new listings! It isn’t hard to realize that there is a huge shortfall of listings. The homes being sold are not being replaced with new listings. The month of January ended with only 1.4 months supply of inventory.
NORTHWEST SNOHOMISH COUNTY (STANWOOD AREA) STATS
For the Northwest Snohomish County area, which includes Stanwood and it’s surrounding area, has even more shocking statistics! The number of pending sales in January was 176, and sold was 137, for a total of 313 homes in the process of being sold. Those were replaced with only 198 new listings! This leaves the area with only 1 month supply of inventory, which is even lower than the average of 1.1 for the state.
GOOD NEWS FOR SELLERS
This situation we’re currently in creates a great position for sellers. There is a great deal of built up buyer demand. This could drive an excellent price for your home, a quick sell, and additional negotiating leverage as the seller. This is the perfect situation if you’re looking to make a move, earn a profit from your home, and sell quickly.
Contact me right away if you’re interested in seeing what your home could sell for in this great sellers market! I would be happy to give you a complimentary market analysis of your home!
CALL/TEXT: 425-508-0149 EMAIL: northsoundbroker@gmail.com