Once again, I’d like to talk about our inventory, and I apologize if you’re sick of hearing about it 🙂 As you can see from the charts below, our inventory of homes on the market in Champaign County has remained quite a bit lower for the first quarter of 2012 than the first quarter of 2011. And this trend started back in the 3rd quarter of 2011!
Additionally, the total number of sales has been up compared to a year ago. Yes, the warmer weather probably accounts for a portion of this increased buyer activity, however, I personally don’t believe it accounts for all of it. The fact is, there are many other areas around the country that have been experiencing similar trends and some of these places saw this change in activity months before we did.
While I certainly can’t predict the future (wouldn’t it be nice if I could?) I do feel comfortable saying that it feels like we may be experiencing a positive turn in our local market. This does not mean that everything all of a sudden is “back to normal.” There are still areas and particular neighborhoods that just aren’t seeing much activity. It does mean, however, that if you’re currently in the real estate market as a buyer or seller in Champaign County, it’s possible that you may need to adjust your strategy. Well-priced homes may not be sitting on the market for as long this year as they might have a year ago.
*Information is deemed reliable, but not guaranteed to be accurate. After all, I’m only human 😉