The Housing Market Has Gotten Busy

Ever since Christmas ended, we've seen a huge change in the housing market in Amarillo.

1.  Our inventory is way down.  We need more listings.

2.  Our buyers are out looking.  I had over 40 people come to an open house on Sunday.  No one showed up the first 15 minutes so I went outside and started shoveling snow off the sidewalk, but once the first lookers came, there was not a time that someone was not in the house.  At one point I have 4 separate groups working their way through the house; luckily it was a large 2541 sq ft 4/2/2/ home with 2 living areas, 2 patios, and lots to see in the backyard on a pretty day.  So they were going outside and just circling each other.

3.  I got 2 offers on one house on Friday, and before they could make their 10 a.m. best offer on Saturday, I had another realtor call saying she had someone interested; and while we were waiting to hear from her, another realtor called and said she had a veteran who was interested in the house and wanted to go up in the attic to see if walls could be removed.  So we waited another full day before sending in our counter on the one we chose from Friday to deal with.  Then this morning I got word that 3 other realtors showed the house Sunday afternoon.    I tell you buyers have come out of the woodwork. 

4.  Although our inventory in Amarillo is low, realtors at Prudential Ada Realtors have taken 6 new listings this past week.  Our office might single-handed make it a goal to put inventory back out there.  I am not one of them, as I've been too busy handling the offers and showings on one listing and setting up the open house and holding it on another to go out and try and get more listings.  I've always felt I needed to take fewer listings and keep my "sale" rate high.  I've only had 3 listings not sell, and one of those I had a contract offer after the listing ended for a good price, and gentleman had decided not to sell as he had renters.  So let's say 2 listings!!  So I concentrate on selling the ones I get and not making it a goal to have the most listings.  I've found that 4 is the most I can handle and give them the attention they need.

5.  Interest rates took a tiny step up, so people may have seen that and decided not to stay on the sidelines any more. 

So after a month of nothing moving and everyone getting ready for the holidays, we see the real estate heating up again.  Hoping this will be the best year for real estate in the past 4!!