The market is strong!
We averaged 15.5 showings per active listing in Jan 2014. This is up quite a bit from the 9.4 in Dec ’13. By comparison, Jan ’13 had 13.0.
Impressively, our number of active listings rose in the last year, too. This is a great leading indicator for March and April having strong closing volume.
Showing traffic was the most intense at the $200k – 250K price point, with 21 showings per listing in January. The least activity took place at $500K+ (5.0 showings) and under $100K (6.5 showings). The middle market had most of the activity.
If you are thinking of buying in the $100k – $350K range, DO NOT WAIT. Incredible buyer traffic and very little competition.
It can be frustrating to buy in this price range, considering the lack of inventory. Historically, the inventory in these price segments should start to build around May.
(Courtesy of Lon Welsh, Your Castle RE)