Love Where You Live
If the first part of 2020 taught us anything, it’s that our clients, friends, and families need a safe, enjoyable place to love and live. Over the past couple months during the trying times, and in the future, we will continue to help people find the place they love or sell their property.
We implemented protocol to be safe, sanitary, and still sell properties and find new homes for buyers. We will continue some of this protocol as necessary.
Congrats to our clients below who have listed or purchased in 2020:
If we may be of service to you or someone you know who may be interested in buying or selling residential or commercial real estate, please let me know. Further, if we may provide additional information about your neighborhood, we’re here for you.
Share this:
Effects of Supply & Demand, Housing Inventory, & Your Pocket Book – Market Stats April 2020
This discussion is not just for stat nerds like me. It is for the clients who appreciate data analysis.
I remember sitting glassy eyed in Macroeconomics 4 while at the University of Missouri. A rough night of doing who knows what made it hard to focus, plus it was not very exciting…
Clearly, I was oblivious to the importance of such a concept of Supply & Demand in regard to economics and real estate. Oh, how I wish I could go back and smack myself in the face and wake myself up. Economics is everywhere, at work all the time. Now we’ll discuss selling and/or purchasing a home, and how supply and demand is part of the foundation of a home’s market value.
I’ll admit, some people are not enthused to read about this stuff…and I don’t blame them. Again, that’s why our clients count on us as professionals.
The basic principle of Supply & Demand states that the price/cost of any house varies directly with Demand and inversely with Supply. Namely, as Demand goes up, prices will go up. In todays environment (as of May 2020), demand is still high, even with the Covid pandemic. People still need a place to live, and where better than your own home, instead of an apartment complex?
For a home, Supply is the amount of other real estate available (for sale or rent). This can be at various prices in a given market (we’ll use Clay and Platte County in April 2020 for our example) for a given period of time.
Stop me if you heard this one, but there is a lack of homes to purchase. You’ll see in the above charts the lack of inventory. What does this mean to you? Certain price points will bring a premium purchase price.
Most clients would prefer to either see the data or have it explained. If you would like to see your approximate property value in todays climate, visit my page on our website: https://www.aspiresellskc.com/derek-espeer/. Further, if you’d like to see market activity for your neighborhood, email me at derek@aspiregroupkc.com, and I’ll set you up.
If you’ve thought of selling, please contact me and we will discuss a strategy to get you in your new home, while maximizing your return with market conditions and perimeters.
