Housing Market at a Boiling Point
Key Market Indicators – January Recap
Jackson County Housing Update - Resale Only
With buyers eager to secure their home of choice and get settled by the springtime, it’s a great time to put your home on the market! To maximize your home’s closing price and ensure your desired contingencies are met, it’s critical to work with a trusted broker associate who will be “in your corner” when negotiations come to the table.
Frenzy Market Returns
SCALE: MONTHS SUPPLY
SHARE HOUSING UPDATE
As predicted, prices are rising as a power surge of buyers has entered the market, compounding the backlog of holiday buyers.
In Jackson County, homes priced up to $250,000 (this range comprises 31 percent of sales activity) are virtually sold out. There is a shortage of homes in the $250,000 to $500,000 range, which comprises 60 percent of sales activity. Overall unsold inventory is down 29 percent compared to Jan. 2019, and the lack of homes for sale is pushing prices higher. These conditions, along with historically low interest rates and a strong U.S. economy means the focus is on each new listing hitting the market.
Average % of
New Listings (Pending)
in the First 30 Days
Unbelievable Interest Rates
Source: Mortgage News Daily
NEGOTIATION FOR SELLERS