Uncategorized November 2, 2016

Buyer Demand Outpaces Seller Supply

When it comes to Tam O’ Shanter real estate, pricing is just like any other business: the value is determined by supply and demand. When demand is high and inventory is low, the price goes up. If you have been toying with the idea of selling your Tam O’ Shanter real estate, right now is a perfect time. There are plenty of buyers looking to get into our neighborhood. In fact, there is a strong buyer demand for Washington State in general.

NAR (The National Association of Realtors) recently surveyed over 50,000 real estate professionals. The topics covered were current pricing and market conditions for their local areas, as well as their home sales expectations. This survey opened our eyes on the seller supply and buyer demand.

For the United States, the buyer demand was considered strong in all states apart from the following:

Moderate Buyer Demand: Oklahoma was the only state.

Weak Buyer Demand: Wyoming, North Dakota and Connecticut.

Very Strong Buyer Demand: Utah, Kentucky, Ohio, Oregon and finally Washington State.

For the Seller Supply, a majority of the country was considered weak for seller traffic. This basically means we do not have the inventory to satisfy our buyers.

Prices are expected to increase over 5% in the next year. In fact, home prices will not start to level out until the supply of homes increase to meet the buyers demands. If you have been thinking of listing your Tam O’ Shanter real estate, now is the time. There are plenty of buyers searching the inventory for their dream home. There is still time to capitalize on our current real estate market. For more information on buying and selling Tam O’ Shanter real estate, give me a call.