Spring 2020 Market Report

Humboldt County Real Estate continues to be a fun and demanding market to work with. Our local economy is unique and the real estate here is equally so.

Statewide, Spring is known as the time when the Real Estate Market heats up, along with the weather and everyone’s post-taxes buying power. In Humboldt, Spring starts slow, and our tendency to cool, windy/rainy weather often prohibits an early start to that buying season. However this year, that doesn’t seem to be the case. Humboldt Real Estate is very active right now, and indeed, even my flowers seem to be blooming early.

Statewide reports indicate that this year’s buying season is starting early, and this is also true of our local market. There seems to be LOTS of buyers and not quite enough properties to go around. In actuality, housingwire.com is reporting that the January 2020 mortgage market was the strongest January in 11 years, according to the Mortgage Bankers Association.

What does this mean to you?

So, if you’re a buyer, you may be looking for the right property for longer, and might end up paying slightly more for it. This doesn’t mean it isn’t the time to buy, but it is a time to consider all options and be patient until the right property comes along. It’s still an amazing time to buy right now because interest rates are the lowest they have been in a very long time.

These stats also mean that if you’ve been thinking of selling your house, now is the time – especially if you thought you might wait until the “Summer Market” booms – it would be wise to reconsider your timing and start taking actions to get your property listed sooner.

Zillow statistics suggest that houses listed in May, sell on average 6 days faster than during other times. Furthermore, these listings sell for 1% more. In short, waiting until June/July to list actually only gets you more competition, which ultimately affects overall prices/gain.

If you want your property listed in May, the time to start preparing is now.

Refer to the very comprehensive Seller’s Guide we have available on this website for tips on where to start. We’d love to offer you a free market analysis and assist you in the process when you’re ready. Or if you just have questions, feel free to call.

In other news, which isn’t really news at all, Humboldt County continues to be an amazing, beautiful place to make a life. Get out there and enjoy it!

Ami and Brian Wruck, Realtors License # 01930074 and 01967204 707-834-8965 amiwruckrealtor@gmail.com 707-599-9218 brianwruckrealtor@gmail.com


%d bloggers like this: