2018 was definitely a seller market with high prices and low inventory. But it looks like 2019 may see a softened market. It actually started around June 2018: we saw a lot of new houses listed, what probably felt good for buyers. After that until today, the average and media prices of homes dropped. In July, the inventory hit a three-year high: it was the slowest time with the lowest prices. A month later, it hit a four-year high.
Today, inventory is still low, but we still saw a recent increase and houses remain on the market longer than a few weeks ago; what enables buyers to take their time. 2019 will probably be less crazy than 2018. Buyers won’t have to rush or to spend over what they planned. But it also means that seller might struggle a little bit to sell their house.
Our advice to sellers: if you want to sell your house, start early, to make sure everything is perfect (remodeling, staging…).
Don’t stress out, we can help you sell your home! Contact us today.
By Caroline Germano - Jan 4, 2019