Bye Bye, Buyer’s Market

It’s official: the buyer’s market is behind us. With the market improving, the real estate industry is abuzz with positive news every day. While increasing prices and multiple offers may be a dream for a seller, it may be a nightmare for a buyer.
More and more hopeful homeowners are entering the fold with markets across the country (including Kingsburg) showing scant listing supplies. The available Active listings within the city limits of Kingsburg stands at only 12 homes. Inventory has really taken a hit lately. Many homes are receiving multiple offers and the once forgotten bidding wars are becoming a commonality again.
As a contrast there are also 12 Active listings OUTSIDE the city limits and 7 of them are listed from $450,000 up to a $1,100,000. So more higher end homes are becoming available and staying on the market longer.
Our Price Per Square Foot (PSF) for sold properties is still hovering around an average of $126. But is in interesting that of the 9 homes that Sold in June, 5 of them Sold over $140 PSF. Most of these are located in the north east section of Kingsburg.
So with all this being said …… the real estate market is doing well these days, homes are being listed and sold and we are truly heading back into a Seller’s Market. The graphic below indicates that most of California is in a recovery mode.
blog graphic July
(The video blog will not be published this month due to the fact that the video manager and her husband spent a week in Gettysburg, PA, time got away from her and nothing has been normal since.)

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