What’s Next?

This last year has been like the wild west of our local Real Estate market. Residential inventory is at the lowest level in decades. Currently there are only 321 available homes for sale in the entire county. Buyers are scrambling to buy homes just as soon as they hit the market. In the last eight months, the median days on the market for new listings here in Columbia county was only 53 days. Buyers often have to compete with other buyers, and many times are needing to pay above the asking price to secure the home. Buyers should get themselves pre-approved before shopping, not just prequalified. This will allow your offer to stand out if you are in a competition. Also, I suggest buyers should be prepared to act quickly when they find a home that will work for them. Another sound idea, put aside your wants and concentrate on your needs instead. You can aways add those want items at a later date. If you are a seller, now is the time to be in the market when you will have less competition to deal with. Something else that has worked for some our sellers, is to price their homes very competitively, which sometimes leads to multiple offers and in turn can bring a price far above the asking price. The key to all of this is to be prepared, opportunities like this don’t happen very often.