I have always been a “why guy.” Why are homes selling so fast right now? Why are so few homes for sale? Why are sale prices going up? Why do you never hear father-in-law jokes? A little off track on that one, but you get the point.
As of this writing, Classic Real Estate has 20 active residential properties for sale. Just a short time ago, we had around 150. I have a whopping one listing that is not currently under contract. A few years ago, I would average 30-35 residential listings at any given time. There are only 85 active listings for sale in the entire county. There has been a total of 169 homes sold just this year. That number is astounding to me. We are not listing new homes fast enough to keep up with the demand.
Those of you that follow the market, and may even be involved in it as I am, will agree that the above numbers are game changers in the local real estate market.
Changes for buyers: Buyers do not have the standard two to three days to “think it over.” Quick decisions are a must. If they don’t move quickly purchase the home, there just may be some folks waiting in the driveway behind them that will.
Changes for sellers: Homes are selling for more money than in times past, thus the net amount received at the closing table is significantly higher. But this can also be an issue when the sellers become buyers seeing the other side of the transaction as buyers.
If you are, or ever have been, in any type of sales, I am sure you are just like me and always seem to have a reason for the whys. They are more like excuses. How many have we used: Election year, school is out, school is in, vacation time, Christmas, too cold, too hot, fair week — no one ever shops for anything now.
It appears to me when it’s good, it’s good for all. When homes are being purchased, so are new cars, boats, campers, clothing, insurance and so on. Not sure what it is, but there is a connection.
Based on my nearly 30 years experience in selling many things, here is my very thought-out scientific answer. I think there is a very large bus that pulls up to all buyers. There is even a sign on it that says, “let’s go buy some stuff.” And, everyone follows what the driver says and gets on it. This bus takes them to many different places. Everyone on board buys many items. They have such a great time. Then, there’s another bus that drives around and lets them all off again and tells all to go inside and don’t buy anything.
Thinking back, anytime I bought a house to live in or have bought most anything, my decision to do so was based solely on the fact that I had the need for it, pure and simple. It had nothing to do with what election was coming up or the time of year, or anything else for that matter. Maybe it is just that many people have the same needs at the same time.
So why is the market in the state it is right now? Maybe it is the weather!
Randy Butler is a lifelong resident of Highland County and a licensed real estate agent for Classic Real Estate in Hillsboro.