Inventory levels at historic low levels in Mount Vernon, WA
The market is quite brisk and anything that is priced properly is selling. As a result, inventory is at levels we have not seen in years. There are very few homes for buyers to chose from quite a few homes listed for sale are getting multiple offers.
Part of the reason this is occuring is the banks that have foreclosed on homes are not dumping every home they foreclose onto the market. They are also slowing down in the foreclose process and don't have as much of an inventory themselves.
Even short sales, typically the last home to sell due to the unknown nature of how it will turn out and the length of time it takes to close the sale are selling. Not only are they selling but they are getting multiple offers as well.
Interestingly, this seems to be an across the board situation. It is happening in all areas and almost all price ranges.
In some price ranges there just are not any homes available so this makes buyers look either higher or lower but the results are the same, more competition for the available homes.
The days on market has dropped significantly in the last 36 months and even in the last 6 months.
If you are interested in inventory levels, days on market or any other statistical information for your neighborhood in particular, please call 360-610-7653 or email
ed@edfinlan.com.
If you are a buyer/investor and want to find out how to buy a home wholesale instead of retail and save $53,272.00,
contact us right away.
Ed Finlan Group
