How Is Supply and Demand Impacting Sales?

Motivated buyers are plentiful right now in greater Lansing. What is not plentiful is saleable listings. What does this mean for buyers? Sellers now have more leverage and consequently make fewer, if any, concessions in negotiations. Average selling prices are rising as a result. Buyers need to ready to act when they find the right property, be fully preapproved for a mortgage, and understand that offers contingent on the sale of another property are unlikely to fly.

What does this mean to potential sellers? Don't wait to get your home on the market. Inventory of properties for sale will swell markedly in the spring introducing much more competition and reducing your negotiating leverage.