I was out and about over the weekend and met quite a few new people and saw some old friends as well. Had a great time, ate too much corned beef & cabbage, played some music and enjoyed a few cocktails too. What does that have to do with real estate? Well no matter where I was over the weekend BBQ, store, bank… Everyone had the same question: How’s the market doing? That’s a fair question and it seems to come up more and more this time of year. There’s something about Spring being in the air to get people wondering about real estate values and the current market conditions.
It was my pleasure to to relay to them that things are finally on the upswing. After the last few years of decline it’s nice to see a slight uptick in value. Couple that increase nudging Buyers into action with interest rates remaining at a historically low level and you have a recipe for a very hot market. BUT… (and you knew that but was coming) where is the inventory of homes? As I write this there are only 44 active single family listings for sale in Ukiah, CA and only 34 active single family listings in Willits, CA. Multiple offers are the order of the day, which is good news for home sellers, so why aren’t there more of them?
That’s a question for next time… In the meanwhile, I’d love to here your thoughts on the matter.