Current Condition of Housing Market

Published 04/24 2014 01:43PM

Updated 04/24 2014 01:57PM

Are you in the market to sell your house or buy a new home?  Realtors say now is the time but there is one problem and it comes down to supply and demand.

WFFT's Charlie De Mar has more with a look at the current condition of the housing market.

After speaking with realtors and several sellers, they tell WFFT that there are plenty of buyers on the market who are willing to pay top dollar but there simply just aren't enough homes for sale.  So buyers beware, you are going to have to act fast.

The tune of the local housing market is music to local real estate agent's ears.

"We are short listings because they are selling quickly."

Jan Sanner of #1 Advantage Realtors says the housing market is on the rebound but home sellers have the upper hand in today's game.

"They have an advantage right now because they may be the only one selling on the block."

Sanner explains there are plenty of buyers knocking at the door willing to shell out good money for their dream home but there's not enough homes for sale to meet the demand.

"11 days."

It took Todd just 11 days to sell his family's Fort Wayne home.

"I was very surprised knowing that we sold it ourselves without a realtor.  Thought that was pretty unique."

According to the Indiana Association of Realtors, the number of new listings is down statewide.  Consistent with what Sanner has seen locally and the average sale price jumped more than 5% since last year.

"People are wanting homes and there are not a lot of homes available or if they are, they are going very quickly so you just have to be ready to go and have your office ready and like our house, a couple offers came in at the same time."

Now is the time to buy and sell.

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