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 confusion out of this springtime scurry by educating our home buyers every step of the way. However, the hurried feeling very much applies. Time is of the essence and we work swiftly to help our buyers secure that perfect home.
When things heat up
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.
Springtime scurry strategies
Buyers, don’t get discouraged. Preparation is key. We can help you identify the type of home you’re after and guide you through the financial steps you need to take to be ready to act on a moment’s notice. This will leave you poised to score the perfect home.
Sellers, if you’re considering putting your home on the market home, now is the time! There are major benefits to selling in a hot market. Get in touch, and we will help teach you the moves of this springtime scurry!