Like anything, the price of residential real estate is determined by supply and demand. if many people are looking to buy a home, and the supply of homes for sale is limited, home prices will increase. According to the National Association of Realtors (NAR), the supply of homes for sale increase dramatically every spring. The graph below shows what happened to housing inventory at the beginning of last year.

Putting your home on the market now instead of waiting for increased competition in the spring may be in your best interest. Buyers in the market during the winter months are truly motivated purchasers who want to buy now. And with a limited inventory currently in most markets, sellers are in a great position to negotiate. If you are considering listing your home for sale and would like more information, please visit our website or contact us at (864)341-7774 or lakegreenwoodproperty@gmail.com to discuss your next steps.