It's a seller's market and Bedford continues to be a hot spot, so much so that area builders can't keep up with the demand and realtors don't have enough homes to show potential buyers. For the most part, new homes are spoken for. Most new subdivisions have long waiting lists. So, I stopped taking buyers. It stays on the market an average of 133 days, or a little more than four months.
Many homes sell even faster.
Like Knoettner, he said buyers have at least a six-month wait to get into a new subdivision in town. Additionally, interest rates remain low and Bedford's home resale value is high. The community tends to have a transient population, with professionals moving in and staying for a few years and then selling their homes. Bedford has had a strong planning department and a stricter building code, according to Knoettner. Sellers are getting more money for their homes and buyers are spending more and settling for less.