That’s the most common topic of conversation among Poway real estate agents these days. Anyone listening in has surely heard it. But what does it really mean? Is this a good thing or a bad thing?
In real estate, low inventory means the total number of homes for sale has decreased, compared to the number of buyers, which is increasing. Specifically, there 109 single family homes for sale in Poway in January 2016, compared to only 72 in January 2017, according to the San Diego MLS provider, Sandicor. That’s a huge decrease! This change in supply and demand resulted in an increased median home price in Poway from $572,500 to $659,800 for the same time period.