Have you heard about “lack of inventory” in terms of the housing market? It is tough to think of our homes as inventory but to buyers they are. There is, currently, a significant lack of available homes to purchase and it’s only getting worse.
The above slide is from Midwest Real Estate Data (MRED), our Multiple Listing Service. The green bars are new residential listings to hit the market in certain week-long spans for 2021 and the blue are for the corresponding week’s span this year. There were not enough homes to support the amount of buyers in the marketplace last year and we haven’t re-stocked, so to speak, well enough to begin 2022. With many buyers looking to purchase and not a lot of options to buy… prices drive up.
Give one of our fantastic agents a call today for a free market analysis and see what the market value of your home is right now!