When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you strategize when is the best time to move. 

One thing that may be working in your favor is how few homes there are for sale right now under $3,000,000 dollars in Lamorinda. Here’s what you need to know about the current inventory situation and what it means for you. 

The Supply of Homes for Sale Is Far Below the Norm 

When you’re selling anything, it helps if what you’re selling is in demand but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. In the under $3,000,000 category, there are more buyers looking to buy than there are homes for sale. 

To tell the story of just how low inventory is, here’s the latest information on active listings, or homes available for sale. In our opinion, anything under a 3-month supply of inventory is a seller’s market (advantage seller). A 3-month to 4-month supply typically means we have a balanced market (meaning there is no advantage to buyer or seller). Over 4 months of inventory begins to show signs that it is a buyer’s market (advantage buyer).

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. In fact, our listing at 1022 Hoedel Court in Lafayette had 11 offers all above list price last week. 

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. If you are considering selling your home, lets connect soon to discuss the various on and off-market options that exist in today’s market. 

Thanks,
Dana, Lauren, and Allison