If you have thought about selling your house in Redding this year, now may be the time to do it. The inventory of homes for sale in Shasta County is well below historic levels and buyer demand is skyrocketing. The best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market. As you can see by the slide below, Shasta County housing inventory for the month of April was down by 21% compared to last year.
Jonathan Smoke, Chief Economist at realtor.com, revealed in a recent article that:
“The biggest challenge to buyers this spring will be simply finding a home to buy
and getting it successfully under contract. That’s because the supply of homes
for sale is at an all-time low, and yet demand is strong and getting stronger.”
Smoke goes on to say:
“We started the year with the lowest inventory of homes available for sale we’ve ever seen.
We did see inventory grow 2% in February, total inventory was down 11% over last year.”
In this type of market, a seller may have a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.
As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas. If you have questions about potentially selling your home in Redding, please feel free to give me a call at 530-222-3800. We have lots of information on our website at www.reddinghomes.com/selling-your-home/.