Comparing the current year to the last year helps to remove seasonal norms as we analyze trends.
As we look at February 2024 vs Feb 2025 listing inventory is UP almost 15+%. That means more choices for buyers! Depending on the price range and area, many houses continue to be in multiple offer situations. It is a bit like “Whack a Mole” where every time a new listing pops up, buyer run over and put their name on it. So in other words, the supply (number of houses to sell) still does not exceed demand (number of buyers in the market.) This equates to a “seller’s market” where sellers remain the ones with the strongest ability to negotiate.
So what does this mean for Spring shopping this year? Well, for one thing, this is a snap shot of February 25 vs Feb 24 – February is historically a low month for inventory. We tend to see inventory pick up during March, April and June – AND so does the demand (more buyers want to shop when the weather is warmer.) Additionally prices tend to appreciate strongly March – Nov or so and then level off before the next year’s “seasonal” gains, so seeing both Feb markets flat to each other is not too surprising. Remember we ended 2024 with nearly 7.15% gain in average sales price – another strong year 🙂
Bottomline: a consultation is your absolute BEST first step. This will help set the tone for how the market is working in the areas you are considering moving too, along with looking in-depth at the market your current house is in. THIS IS CRITICAL and will help set you up for success!
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