2012 is off to a great start! With the most recent housing statistics being released from the Columbia Board of REALTORS, home sales in Boone County were at 151 for the month of March, which is the highest level we have seen in the month of March since 2007. Pending home sales were also up for Boone County with 242 in the month of March, up from 180 in February and the highest number we've seen in 22 months. Pending home sales is a great indicator of current activity--it indicates the number of homes that went under contract in one month, meaning a buyer put an offer on a home and it was accepted by the seller.
Although the spring market usually shows an increase in the number of homes for sale, in March it was the opposite with active homes for sale falling from February. This is a good sign, because it shows we are selling homes and keeping the inventory lower. 246 homes were listed in the month of March, and 242 went under contract, along with homes that closed in March, so inventory is falling.
This is great news for sellers who are looking to potentially put their home on the market this Spring--you better jump now! The competition is lighter because there are less homes on the market, and homes are selling now! This is also news to use for buyers, as it provides instruction on how the market is working...if you find a home you like, you better make an offer, or it may not be there next week!
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