The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:
Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.
Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.
About Jeff Stone
I'm a Licensed RE Salesperson with Douglas Elliman - Port Washington/Manhasset. My designations are Certified International Property Specialist (CIPS), Resort & Second Property Specialist (RSPS), Seller Representative Specialist (SRS), Certified Buyer Representative (CBR), Seniors Real Estate Specialist (SRES), Seller's Representative Specialist (SRS) & Realtor Short Sale Professional (RSSP). I'm the Recipient of the 2104 National, Seniors Real Estate Specialist (SRES) Outstanding Service Award. I am a former Executive Chef in the New York Hotel & Restaurant Industry. I was also a Caterer/ Business Owner, supplying foods to the Entertainment, Hotel, Restaurant & for Special Events. I love the Outdoors (kayaking and hiking), Fishing, Cooking, Art, Networking & most of all, Volunteering within my community of Port Washington, NY. Jeffreystone.realtor
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