📊Tuesday, May 12th WEEKLY MARKET WATCH📊

📊Tuesday, May 12th WEEKLY MARKET WATCH📊

Now that a slow upward trend is starting to emerge I'll be updating the Market Watch weekly instead of daily, for all 2 people out there who follow 😅

The story remains the same, with pent up buyer demand battling low housing inventory, prices continue to escalate and sellers continue to benefit.

▪️ 56 homes accepted offers last week, with only 52 new listings hitting the market. This is the highest number for both categories in 7 weeks, showing a steady trend upwards in market acitivity.

▪️ With Accepted Offers continuing to outpace new listings, an inventory shortage continues to worsen, with only 192 available homes currently on the market (typically this time of year we are between 250-300 available homes).

▪️ Only 22 new listings hit the market these past four days (5/8-5/11) compared to last Friday thru Monday (5/1-/5/4) total of 40! There simply are not enough homes hitting the market to keep up with demand.

This extreme lack of inventory is driving prices up. If the trend continues then home values will remain strong. There seems to be a window of opportunity here for sellers who want to sell high. Low inventory has been a constant for the past 4 years, but has really impacted the market during this pandemic. If you want to sell your home, but still have concerns, just know that we are finding ways to do it safely and convenient for you. Virtual Tours, one day showing restrictions, protective equipment and more! Check out www.realbradford.com to see some virtual tour examples! *information is deemed reliable but not guaranteed* #lafayetteindiana #lafayetterealestate #westlafayette #westlafayetterealestate #westlafayettehomes #boilerup #privaterealtor