Tip From Our Broker Current Local Market

by | Mar 29, 2019 | Tempus News, Tempus Tips

The current local market in the West Valley shows minimal inventory. Sales are just enough to keep the inventory stable. The current month’s supply of homes is hovering around two months. This means if there were no more listings taken it would take two months to sell the remaining inventory. Most times this indicates a seller’s market, but times have changed. I contend we have just enough buyers to satisfy our inventory and keep it stable. Buyers are looking for good values. Many of the remaining inventory of homes are over-priced, thus not getting offers. If your home is listed and not getting an offer, you might want to consult your real estate professional and consider a price reduction. In the current market conditions well-priced homes are selling quickly and ones that are over-priced are not.