Our Market is Hot!

Our local market is HOT guys. I sell a lot of homes here, and my new listing at 3339 Cambridge in the Greenwood subdivision in Maplewood blew me away with it's first open House. I held it open on Tuesday June, 12th between 11am and 1pm, and had 12 buyers come through. A few groups came back for a second look with their agents the same night! In the first week of showings it has brought in 33 total buyers to the home.

Many homes are selling in less than a week in our area now! It really is attributed to a simple yet powerful equation: supply versus demand. The truth is now we are in a market that has more qualified buyers than available homes. This shift in housing equilibrium has skyrocketed our market into a mini buying frenzy. Dare I say the tides have shifted to a seller's market. There is plenty to get excited about, but reserve elation for a wee bit longer. The demand is there, now let the market correct it self so we can see the prices begin to mend.

Remaining hopeful is the key to the housing recovery. The light at the end of the tunnel is near, but remember this; your home may not be worth the large amount you could have sold it for in 2007. It will take a few years of this type of market to get us there. Yet still in this market you have a reasonable chance to sell your home quickly, and for more than you could have in years.

In the past month in our neighborhoods I have seen many things. First in foremost the trend upward is continuing. Second the housing inventory continues to dwindle causing a housing shortage for all of the buyers. Third and most importantly I have seen homes sell in one day, and with multiple offers, sometimes going over the list price.

Stay tuned to see why your home may not be selling and the only two factors that get your home sold.

Signing off
Joshua Horn, REALTOR
Coldwell Banker Premier Group
Owner, STL Home Sales

Questions or comments please contact me at:
314-448-3247 or by email at STLHomeSales@live.com

Find me online at STLHomeSales.cbp1.com