We’ve shared lots of data about what a strong sellers’ market we have right now in the Tri-Cities, but maybe this new chart will convince anyone who’s still not sure if this is a good time to sell.
Every month, the Tri-City Association of REALTORS® provides members with an update on market conditions. That includes a snapshot of how many homes are “active” — i.e., on the market — on the day that the data is gathered. It’s not a cumulative number for the whole month, but a one-day peek into current inventory.
The highest inventory in 2018 happened in September when there were 685 active listings. It’s been declining every month since then, and there were only 411 available homes in March!
As best I can tell from browsing through the Association’s historical data, that’s the third-lowest inventory we’ve had in the Tri-Cities in the past 25+ years. In February and March of 2017, we had 386 and 392 active listings, respectively. Before, you have to go back to May, 1993, for the last time there were fewer than 400 active listings.
For the sake of comparison, if you go back five years, there were 1,084 active listings in March, 2014.
What It Means
If you’re thinking about selling, now is a great time to do so! Buyer demand is high. Competition is low. A well-prepared, smartly-priced home will probably sell pretty quickly.
If you’re curious about your home’s current value, get in touch below — we’ll provide a free, personalized report just for you, and there’s no obligation for you to sell, or to hire us if you do.