Today’s Housing Inventory Is a Sweet Spot for Sellers

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them.

To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.

According to a recent report from Realtor.com:

“On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”

The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below):

It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data.

When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm.

What Does This Mean for You? 

If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR):

• The percent of homes that sold in less than a month ticked up slightly to 74%. 

• The median days on market went down to 18 days, showing homes are still selling fast when priced right. 

• The average number of offers on recently sold homes went up to 3.3 offers.

Bottom Line

When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Connect with a trusted real estate professional to get the process started.

Get more like this on Keeping Current Matters.

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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4 Tips for Air Conditioning Care to Keep in Mind Over the Summer

As summer heats up, air conditioning usage becomes more and more common.

However, without proper maintenance, it's easy for air conditioning units to break down in the middle of a heatwave. That's why, as temperatures continue to rise, it's important to keep in mind these 4 tips for air conditioning care that will help keep your unit running efficiently all summer long.

Change Your Filter Regularly
One of the most important things you can do to keep your air conditioning unit running smoothly is to change the filter regularly. A dirty or clogged filter can cause your system to work harder than it needs to, which will, in turn, increase your energy bills and decrease the lifespan of your unit.

Keep Your Coils Clean
Your air conditioning unit's coils can also become dirty or clogged, making it harder for your system to cool your home. To keep your coils clean, clean or replace the air filter regularly, and also consider scheduling an annual maintenance check with a professional HVAC company.

Clear Obstructions from Your Unit
Maintaining a properly functioning air conditioning unit is a top priority for any homeowner. In order to ensure optimal functioning, it is important to clear any obstructions from around the unit. Overgrown plants or debris can obstruct the airflow in and out of the unit, increasing the likelihood of expensive air conditioning repairs down the line. By taking the necessary steps to clear any obstructions, homeowners can save themselves from the stress and financial burden of a malfunctioning air conditioning system and, as a result, a possible air conditioning repair. It is important to maintain the unit proactively to ensure optimal comfort during warmer months.

Mind the Thermostat
Your air conditioning unit's thermostat is the key to regulating the temperature in your home. To keep your system running efficiently, be sure to keep your thermostat set at a reasonable temperature, and also consider installing a programmable thermostat to make it easier to keep track of your system's temperature.

Properly caring for your air conditioning unit is essential, especially during the hot summer months. By following these four tips, you can help ensure your unit runs efficiently and effectively all summer. Take the time to educate yourself about your system's needs, and don't forget to schedule annual maintenance checks with a professional HVAC company to keep your air conditioning unit in top condition for years to come.

Get more tips like this on RISMedia.

Related Links

• How To Identify the Signs of Imminent Roof Repair and Handle It Early On

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Explore this Stunningly Renovated Home in OKC's Historic Gatewood District!

Experience the ultimate in luxury living as you step into this beautifully renovated home in the highly desirable and historic Gatewood District.

This charming colonial is full of character and features modern updates throughout. Step inside to find a spacious sitting parlor with an exquisitely carved fireplace, bathed in natural light that accentuates the original hardwood floors. The living room seamlessly flows into a formal dining area, perfect for showcasing artwork or as a cozy study. The renovated kitchen offers stainless steel appliances, quartz countertops, and ample cabinet space. Enjoy the serene backyard pool view while you cook! The primary bedroom suite is generously sized and features an impressive soaking bath and large shower. Upstairs, you'll find another beautifully updated full bathroom for the secondary bedrooms. The dreamy backyard provides space for lounging, grilling, and taking a refreshing dip in the pool. The detached garage with alley access also includes a pool bath. This home is conveniently located minutes away from local restaurants, shops, and entertainment, offering easy access to everything OKC has to offer. Welcome to your new haven, where the perfect blend of historic allure and modern luxury awaits you!

Listed by Cheri Rollins for West + Main Homes. Please contact Cheri for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Cheri Rollins
405-512-4577
cheri@westandmainok.com

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Just Listed: Stunning home in the coveted Fenwick neighborhood

Step into this stunning home in the coveted Fenwick neighborhood.

The open floor plan seamlessly connects the kitchen and living areas, creating a fluid and inviting space. The spacious living room boasts a gas log fireplace and modern carpeting, offering both comfort and style. The kitchen is complete with brand-new stainless steel KitchenAid appliances, including a double oven, gas range, dishwasher, and microwave. You'll find two dining areas, catering to both formal occasions with hardwood floors and casual meals adjacent to the kitchen. This remarkable residence features three distinct living spaces. A chic study on the main floor showcases built-in bookcases and hardwood floors, making it an ideal workspace or private retreat. Upstairs, a versatile living area with newer carpeting awaits, perfect for the kids to create their own haven or for hosting movie nights and game tournaments. The primary suite is a true oasis, offering abundant space, a tray ceiling, and plush new carpeting. Access the back patio directly from the primary suite and indulge in the serene view of the adjacent greenbelt. The primary bathroom features dual sinks with a makeup vanity, a soothing soaker whirlpool tub, a walk-in shower, and a generous walk-in closet with built-in dressers. All additional bedrooms are conveniently located on the main floor, each accompanied by its own bathroom, ensuring privacy and convenience for everyone. Picture yourself lounging on the back patio under the charming pergola, equipped with fans to keep you cool while enjoying the lush greenery of the greenbelt. Don't miss out on the opportunity to call this exceptional property your home. Experience modern living at its finest and create cherished memories in this remarkable dwelling, where style, comfort, and the beauty of nature converge seamlessly.

Listed by David Williams for West + Main Homes. Please contact David for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
David Williams
405-934-4001
david@westandmainok.com

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This Weekend: Oklahoma Open Houses for July 1st-2nd

Our agents are hosting Open Houses this weekend all over the Oklahoma City Area.

You can find all of these listings on our website. Please reach out to the listing agent for information on times and more information on the listing!

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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