Wow! What a month!
Although we sold a few less houses this month, I don’t think that was because of a decrease in demand. I think it is more likely because of the lack of inventory in much of the market.
You will note that two of the sales went substantially over the asking and several others sold right at the full price. One of the listings that sold well over asking was my listing at 674 S York. The sellers there bought that house just one year ago for $630,000. They had a short stay as they accepted a new opportunity in Houston. During their ownership, the only improvement they made was new carpet in the basement and some closet organizers. We listed it for $659,900 and had 3 offers which resulted in a contract for $691,500 and a backup offer for the same amount. The Case-Shiller Index looks for these same house sales. When they use this one, it will show 10% appreciation in the last year. I doubt the average will be that high but none the less, it is an impressive improvement.
So, if you know anyone who had a house that they couldn’t sell in the past, now would be the time. I am working hard to keep my inventory up. If you know anyone in that situation, I would appreciate it if you would let me know so that I could contact them. They might be pleasantly surprised.
