Lately we’ve had multiple offers on several of our listings, especially in the $250,000 price range and under. We thought it would be good to update the months supply of inventory graph so buyers and sellers could see what price ranges are Hot.
Months Supply of Inventory Hot Spots:
As you can tell by the graph, anything up to about $300,000 has a low supply of inventory. All price ranges have come down since we last posted this graph in January. The $200,000-$400,000 numbers haven’t moved much. Back in January the $200-250 range was 4.92 months and today it’s down to 4.90 months. The $250-300 range was 6.19 months and today it’s down to 5.55 months. The $300-400 range was 7.83 back in January and today it’s at 7.24. All lower numbers but not much movement.
Where we have seen some significant progress is in the $600,000+ ranges. The $600-1 Million range was at 15.96 months back in January and today it’s down to 13.77 months. The $1 Million + homes was at 32.61 months which was almost a 3 year supply of homes on the market. Today that number is at 21.34 months. We’ve shaved almost a whole year off those inventory levels which is pretty remarkable in only 5 months.
Homes sitting at $400,000 and above have been competing in recent months with new construction. Even many of those homes have been bought up so inventory is tightening in some sub-markets. For instance, we’ve sold several new homes at Hampton Park. They just ran out of inventory until December. Sales at the Plantation have been strong as well.
When builders run out of inventory it does throw buyers back into the resale market, if the price is right. Speaking of prices, we had over 300 potential sellers check out our online pricing tool last week. www.swflhomevalues.com Many found that to be a useful tool to see where they stand in the market as they contemplate potential changes. If you’re considering moving up or moving out, now might be a great time to speak with us. We can present you with your options.
One reader didn’t like the bank’s recent appraisal on his home so he used our service. He didn’t like that price either as it was very close to the bank appraiser’s number and he was hoping for a higher number so he could refinance. We’ve never been to the property so we can’t say, but it does show that our service in many cases should be close or at least in the ballpark to what banks are appraising for.
We had several readers comment on our new Marketing in High Definition Program as well. www.HomesInHD.TV We are using a drone to take high definition video outside and high definition video on the inside and putting together a professional video for buyers.
The advantage to video is the online video is 53 times more likely to be found on 1st page of Google and Bing than any other form of content, and the Ellis Team is leading the way to getting seller’s property rated high online.
If you’re thinking of selling, you should call the Ellis Team at RE/MAX. If you’re buying, you’ll want to check out our videos at www.YouTube.com/brettellisfl
If you’re shopping for a home, keep in mind which price range it is in. If your agent tells you there are other offers on the home, chances are there are, especially in certain price ranges. Make your offers accordingly. You might want to refer to our Top 10 Tips For Buying a Home in Today’s Market
Good luck and Happy House Hunting!!!
Preview our Latest Listing in High Definition
5731 Kensington Loop
Bell Tower Park
Whether you’re ready to list your home today or just get an update on prices, we’re here to help. To get your home listed and marketed in High Definition simply call the Ellis Team at RE/MAX Realty Group 239-489-4042 or email us at Brett@topagent.com or Sande@topagent.com To search the MLS visit TopAgent.com To learn more about Hi Def video for your home visit HomesinHD.TV
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Fort Myers Real Estate Agent
