scur·ry (noun) – a situation of hurried and confused movement
It’s that time of year…every homebuyer is scurrying to find that perfect home in this rapidly-moving market. We take the confused out of this springtime scurry by educating our home buyers every step of the way. However, the hurried very much applies – time is of the essence, and we work swiftly for our buyers to secure that perfect home.
It all boils down to the simple principle of supply and demand. Specifically, homes priced under $250,000 are a hot commodity. There just isn’t enough inventory for the number of buyers out there looking. Last year’s market was very strong, with the average residential sales price increasing by nearly $13,000 from 2016 to 2017. So far this year (based on the January-February statistics from the Iowa City Association of REALTORS®), the average sales price has increased over $2,000 from last year at this time. With the majority of homes being sold from March to October, that number is sure to increase, but the market is already off to another strong start.
Buyers, don’t get discouraged – that’s why we’re here! Sellers, if you’re considering selling your home, now is the time! We will help teach you the moves of this springtime scurry!