Months of inventory jumped up, reflecting the rise in listings that is typical when we come out of the holiday months. So, although we only have .2% more new listings than January 2023, we are up 89.2% from December 2023. The seasonal slowdown and a jumpy interest rate environment still have us scratching our heads when it comes to predicting prices and trends.
While some inventory lingers (especially those properties that are not "dialed in"), the winners are flying out the door with multiple offers and going well over the asking price. The continuing low inventory situation has motivated buyers, and they do not seem hesitant to jump on houses that "have it all." Move-in ready in a great location is a sure bet to draw folks out of their holding pattern. And with contractors being easier to book right now, sellers who make their homes picture-perfect are reaping the rewards.