Have you heard that there is less inventory in the housing market right now? A good way to look at your competition as a Seller and as a Buyer is to watch the Active Listings and Pending Home Sales (homes under contract). Look at the space between the green line and the yellow line below on the chart for King County Residential homes. Notice the difference in lengths of the green lines and yellow lines over a two year period. This year, there is much more competition for Buyers trying to purchase a home because the ratio between Active Listings and Pending Home Sales is much higher from two years ago. Sellers have the advantage based on the lack of inventory and the high demand of people looking to purchase a home. Do you wonder what your specific area looks like? Just let me know how I can help.
Posted on November 20, 2013 at 12:49 pm John Fiala