Local home sales increase | News
Cathy Marco, a broker at Frank Hardy Sotheby’s International Realty, says her office is busy selling real estate, especially rural ones.
“Madison County has remained popular,” said Marco. “Customers are looking for a view and water. The inventory is low. If the price of the property is right, it will be sold. Even the million dollar farms are selling, but anything that costs $ 300,000 or less is the most in demand. “
While market conditions are favorable for sellers, they can be frustrating for buyers. Increasing competition means that offers are well above the price or buyers forego home inspections. When reporting key trends, CAAR announced a 47% drop in active listings from that point in 2019.
Melissa Martin, a real estate agent at Remax Regency, said the situation was creating some trouble for buyers and sellers.
“I have several clients who would list their homes now if they could find what they were looking for,” said Martin. “At the moment the availability of houses [for sale] is low. Agents see multiple listings for homes and need to go beyond evaluating or forego inspections. In my opinion, this is risky for both buyers and sellers. “
Krystle Kay, an orange buyer, echoed that sentiment. Kay bought a home for several months and was frustrated with the process.