Thursday, December 13, 2012

Humboldt County Real Estate Statistics for November 2012

I'm bragging!  I called the bottom of the market as January 2012 as early as last February! And sure enough, we seem to have hit it and bounced up a little bit! So, where are we going from here?

The good news is that inventory is really, really low! I don't think I've ever seen inventory this low! This usually means buyers fighting over the best listings with multiple offers, maybe even higher than asking price!

The big question is this: Will demand for homes continue? They certainly did through November; we'll see how the Presidential election results and the Christmas shopping season effect the economy, though. Bottom line: if the economy produces jobs, demand will continue; if not, we could be headed for another decline in the number and price of home sales.

When I say that we've bounced off of the bottom, it's not by a ton. The bottom seems to be around $225,000 average home sales price throughout Humboldt County, with the "normal" in the $250,000 range. Low inventory and high demand will certainly push that up; but if the economy falters, we could see prices start to go down...again.

So if you're thinking about selling a home, now is a great time to do it. Call me quickly so we can get your home on the market before the inventory picks back up. If you're secure in your job, low interest rates and prices make now a great time to buy as well. Give me a call at (707) 499-7111 so we can talk about your specific situation.