What's going up? Home values that's what. If you purchased a home in Portage school district in February of 2012 then today it's value is up 5.7%! This is great for sellers and highly indicates that NOW is the time to sell. It also means that NOW is the time to buy. Interests rates are going up, home values are rising and sale prices are too.
The graph above shows the number of homes listed vs sold. As you can see the sold homes are up 39% from the same month last year while the number of listed homes are down -26.1% The number of listings are at the lowest they have been in 20 years! I mentioned this a few months ago that the trend was heading towards a sellers market and it is here. The same amount of buyers + fewer listings = SELLERS MARKET. However, we are still in the early stages. But as the spring season comes along so will the increase in buyers and if the numbers follow the past trends the number of listings will only go up slightly. This will lock in the sellers markets. Some may want to hold out until it is in full swing but the advice is not to wait. A sellers market can be short lived and nobody can determine how long it will last or how high it will drive up prices.
So... if you are thinking about buying or selling you should act soon.
