Closed Sales Report Analysis: Sellers:
As inventory continues to decrease, the number of closed sales continues to grow.
The month of December saw a 9.2% INCREASE in the number of closed units that follows a 5% DECREASE in November. For sellers, this means that buyers are still very, very active in today’s market. New home builders continue to ramp up their inventory to provide options to buyers so sellers need to continue to monitor market activity.
Buyers need to pay very close attention to this statistic. The increase in the number of closed sales is definitely related to the shrinking inventory – buyers are anxious to buy in a market that brings much competition. We continue to see multiple offers on high-demand properties, and in some cases, buyers need to pay more than list price in order to be the successful bidder. Buyers MUST carefully work with their real estate professional to understand the market AND to understand how they can compete with the market demand and other buyers who may be in a financial position that is more appealing to the seller.
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