As of January 4th, 72% of the single family detached homes priced under $460k were under contract!!! For homes priced under $350k, 79% of them are under contract! WOW!!! Our market only continues to get tighter and tighter. Thus, prices can only go up, up, up!
If the Real Estate market was a Super Market here is an analogy for what a super market would look like…..imagine walking into King Soopers and 79% or 4/5 of the aisles are closed off because the stores’ shelves are bare. Basically, only the ends of the stores have anything to sell. Thus, only the bakery, the butcher and the produce sections are open. If you want soup, cereal, pasta, frozen food, condiments, milk, butter, cookies, chips, paper towels, etc. the store is out of inventory and there is no ETA for delivery by truck of any of these items. That’s what our real estate market is like.
(by: Lonnie Glessner)
(by: Lonnie Glessner)