Welcome to the Collins Group Realty March 2012 Market Update
Last Updated April 30, 2012
For many of you, it likely has felt like “spring” all “winter” – and I suspect there aren’t many complaints about that!
If Spring is a time of renewal, I can assure you that the real estate market is soaking up its fair share of that sentiment as sales numbers continue to increase. There was a nearly 7% increase in the number of Pending sales in 2/12 over 2/11, and Closed sales YTD are up nearly 12% over this time last year!
A lot of what is fueling this is the continual drop in inventory coinciding with the continual rise in interest by ready/willing/able buyers. In short, the market IS shifting. Banks are feeling this too (at least the local ones) as they see their number of foreclosures dropping rapidly. And we are feeling it in the day-to-day of the real estate market with more showings, more offers, properties selling sooner, and even multiple offers (actually, a lot more multiple offers!).
We all know that a buyer’s market doesn’t last forever, and it certainly feels like this one is working its way to an end.
So…if you are on the sidelines, you might want to step into action by taking advantage of the deals that exist right now (while they are still around) as well as the interest rates that are still impossibly-low.
Oh, and by the way, please excuse our skipping the March issue of our popular E-newsletter – our lovely and talented Kimberly King, who writes for the E-newsletter, was out on medical leave for some surgery, and we are so glad to report that she is back and better than ever. We’ll make sure to have the April issue be just that much more robust to make up for the skipped-month. Thanks for understanding…
Have a great weekend ahead!!
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