The Liz Moore Market Watch Blog

Inventory Drops to a Five Month Supply on the Peninsula

Posted by Liz Moore on Fri, May 06, 2016 @ 03:09 PM

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A steadily declining supply of inventory has led to a robust Spring market on the Virginia Peninsula (REIN MLS areas 101-112).

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The current market has a 5 month supply of inventory (down from 7.3 months in January), which has dropped below the balanced market of a 6 months supply, indicating a trend favoring sellers.  Pending sales are up 21% for the first quarter, as compared to the first quarter of 2015.  Liz Moore & Associates Williamsburg office celebrated a record March, and is pacing to set yet another record this month!  What does that mean for you?  It’s a great time to sell!

The first step in pricing your home right is finding a professional real estate agent who can help you do just that.  Email us at concierge@lizmoore.com or click below for a complementary market analysis on your home.

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Tags: Buyers, Sellers, Home Sale Statistics & Trends, Hampton, York County, Newport News, Poquoson