The Charlottesville Inventory Is LOW!!!
It seems Charlottesville homebuyers are ready to take advantage of those still low mortgage rates, looser lending standards and new down payment programs as the number of buyers in the real estate market is up! According to several new reports concerning buyer activity, demand this month is at a high. Take Redfin’s monthly housing report, for example— the numbers are showing home-tour demand up 62 percent from the same week last year with signed offers up 58 percent.
Many of those contributing to the high home-tour numbers this month were first-time homebuyers— in fact, 2016 is recording the highest rate of first-timers touring homes in two years! It is their interest in the real estate market and finally making the switch from renting to homeownership is helping to strengthen 2016 demand. Real estate economists have been predicting a surge in homebuyer traffic in 2016 for quite some time now and they continue to expect the younger generation, Millennials, to push the market forward over the next five years.
“Increases in employment opportunities will empower younger buyers to return to the market and fuel the continued housing recovery,” said Realtor.com’s chief economist in a 2016 housing forecast report. “If credit improves, we could see substantially large numbers of young buyers in the market.”
What does this mean for home sellers in Albemarle, Greene, Fluvanna, Louisa and Nelson County? It means you need not wait until spring to list your property if you feel ready to move! With homebuyers out in record numbers now, and inventory at record lows, now is the time to sell your home. The Savage Team can help you list your property this month and take the necessary steps to price, stage and sell your home before the serious competition sets in! Contact us today with any questions and for more details on how to move forward with your home sale during this exciting time in Charlottesville real estate. To check out the Charlottesville Area Association of Realtors 2nd quarter market report click here
The Savage Team’s inventory is lower than it has been in years. We are actively looking for new listings. Call us today so we can put one of those “SOLD by those Savages ” signs in your front yard! 434-951-9244