MIBOR just released sales figures for the month of April, and one thing is for certain— the inventory of homes for sale is tightening. While new listings were up 6% over last April, that wasn’t enough to keep pace with surging sales (up 13% over April 2014). That has pushed the median sales price up 9% from a year ago, which ought to make potential sellers happy and encourage some of them to start advertising their homes for sale.
Inventory is down 3% from last April and 6% from April of two years ago. And it’s even tighter in Hamilton County where sales are on fire— up 30% over last April.
Properties in pristine condition are commanding lots of attention. Some of these properties are bringing multiple offers the very first weekend they hit the market. That should send a message to buyers and sellers alike. If you’re wanting to buy, come prepared (as in make sure you’ve been pre-qualified for financing and be ready psychologically to pull the trigger when you find THE house you’re lookin’ for). Sellers will want to have their houses in tip-top shape when they plant a For Sale sign in the front yard. And those thinking about selling may want to do more than think about it! The market is hot right now- be there!