Syracuse (WSYR-TV) -- There are about 4,700 properties for sale in Central New York. That sounds like a lot, but some realtors say it’s not enough.
Experts say it’s a great time to buy and maybe an even better time to sell.
Interest rates are historically low and home prices are still affordable, which adds up to a great deal for buyers.
“I would run; I would not walk to buy a home in Central New York. There has never been a better time,” said Mark Re with RealtyUSA
The average home in Central New York is on the market for about two-and-a-half months. Experts say if it's priced right, they’re often seeing multiple offers and it could sell in just days.
Springtime is typically when we see a lot of new listings on the market. Re says this year, people started listing their homes a bit earlier. Realtors saw a rush in late February and now, he says, there’s a shortage of homes for sale.
“The inventory is down, so it’s not only the best time to buy in 30 years, but right now, it's the best time to put your house on the market because there are so many buyers out there,” Re said.
Realtors say low interest rates mean folks can afford a bigger home. Right now, the average interest rate for a 30 year fixed mortgage is 3.47 percent. A 30-year FHA loan is just 3.23 percent.