- Inventories are at historic lows. In March of 2012, the Multiple Listing Service reported an inventory level of 1.3 months. This means that if no new properties came onto the market, and we continued to sell them at the current rate, in 1.3 months there would be no houses left to sell.
- Affordability is at an all time high. Currently, Merced is one of the most affordable places in the United States with 85% on the affordability index, meaning that 85% of the local population can afford to buy a median priced home. This is a huge difference when compared to the 11% of the population that could afford to buy during the peak in September of 2005.
- With so many buyers chasing so few properties most sellers receive multiple offers- which usually results in the seller obtaining a higher price.
- Approximately 35% of all offers being written today are ALL CASH. With cash offers the seller does not have to worry about the buyer qualifying for a loan or the property not appraising for the sales price.
In summary, now is an excellent time to place your home on the market. Call us today to find out the value of your property in today’s appreciating housing market.
Merced Sales Office: 209-383-2171
Atwater Sales Office: 209-358-6429
Gonella Realty's Market Update 