Market Monday - 12/27/2021 - Inventory Heading in to 2022
One of the most common questions I get is "When should I list my home?". Typically, in New Orleans, listing after Mardi Gras has been a common practice. However, because of historically low inventory, sellers may want to consider listing sooner than later.
Click the image below for an interactive version of this chart.
With inventory plummeting over the last few years, properties have an opportunity to stand out to potential buyers. Spruced-up landscaping, touch-up paint, and other aesthetic improvements can increase the likelihood of online shoppers wanting to see your property in person. For more tips on preparing your home for a listing, check out Episode 7 of The Level Up with GNO Realty Podcast.
With limited supply and a marketplace chocked full of buyers, home prices don't seem to be falling anytime soon. Even if inventory were to double, it would still be considered low. With these conditions coupled with interest rates below 4%, buyers should be wary of waiting for the price per square foot to fall. (For more information on the laws of supply and demand click here.)
An article by Forbes explains that the housing shortage began before the COVID-19 pandemic, and is likely to continue beyond it.
If you'd like a FREE property analysis to see what your home could be worth, contact Chuck Stall REALTOR® at 504-432-0263 or email chuck@gnorealty.com.