College-Glen Quarterly Real Estate Update - Q1 2017
Now that the First Quarter of 2017 is finished, here’s a look back at Q1 and comparing it to last quarter and a year ago. This is only for College-Glen (College Greens & Glenbrook) single family homes.
The beginning of 2017 has started off with a bang. After the typical post-election lull, the buyers came out in flocks once the calendar turned. This large pool of buyers combined with a shortage of inventory (homes for sale) has created a very strong sellers market so far in College-Glen for 2017. However, sellers can’t get lazy. The homes still need to show well, be priced right and have great marketing. That combination will produce multiple offers over the list price in a few days.
This dynamic is considered a “Price Sensitive Seller’s Market.”
I expect the “Price Sensitive Sellers Market” to continue in the Spring of 2017. The buyers are anxious and waiting to jump on a great new property but not crazy to overpay for a not very desirable home.