How Low Inventory Boosts Your Home's Selling Power

As you prepare to relocate, you're undoubtedly juggling your personal requirements with the demands of the present housing market when it comes to selling your property.

The fact that there aren't many houses on the market at the moment might be working in your advantage. This is all the information you want on the present state of the inventory and what it implies for you.


The Number of Available Houses Is Much Lower Than Average
It is advantageous when selling something that is both in low supply. and high demand. How come? Because there isn't enough for everyone, it becomes even more coveted. In the current housing market, that is precisely what is taking place. More people than there are available homes are wanting to buy.

To tell the story of just how low inventory is, here’s the latest information on active listings, or homes available for sale. The graph below uses data from Realtor.com to show how many active listings there were in September of this year compared to what’s more typical in the market.

As you can see in the graph, if you look at the last normal years for the market (shown in the blue bars) versus the latest numbers for this year (shown in the red bar), it’s clear inventory is still far lower than the norm.

What That Means for You

Buyers have fewer choices now than they did in more typical years. And that’s why you could still see some great perks if you sell today. Because there aren’t enough homes to go around, homes that are priced right are still selling fast and the average seller is getting multiple offers from eager buyers. Based on the latest data from the Confidence Index from the National Association of Realtors (NAR):

  • 69% of homes sold in less than a month.
  • 2.6 offers: the average number of offers on recently sold homes.

An article from Realtor.com also explains how the limited number of houses for sale benefits you if you’re selling:

“. . . homes spent two weeks less on the market this past month than they did in the average September from 2017 to 2019 . . . as still-limited supply spurs homebuyers to act quickly . . .”

Bottom Line

Because the supply of homes for sale is so low, buyers desperately want more options – and your house may be just what they’re looking for. Let’s connect to get your house listed at the right price for today’s market. You could still see it sell quickly and potentially get multiple offers.

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