Here we are tickling the end of March and listings remain a rare commodity. I keep thinking our spring rush of new listings is just around the corner, but thus far no such rush. Every Realtor® in the area seems to have substantially fewer listings at the moment. This has placed significant price pressure on buyers that really have little bargaining room.
Sellers are grinning all the way to the bank, but they should be advised that as prices creep ever higher buyers will fall out of the market and that can act as an equalizer. Now is a great time to sell, especially if you intend to move to a less expensive market.
Buyers need to present the strongest offer they can. It's not just price, strong down, big earnest money, flexible closing terms to meet the sellers exit needs. It's a tough road to haul right now, but buyers that persevere will get a great house even in this tight market.