Mt. Washington Valley -- Buyers, Sellers, or Balanced Market???
Bumped into a past client of mine who came charging out of a local gas station, "Great to see you!" I exclaimed and my friend replied, "Yeah, the way the world is going Ryan, no one is going to buy or sell their home." Selling this spring was a consideration over the winter.
That said, it wasn't the time to talk trends and figures at the gas station, but in fact, properties ARE becoming available and ARE selling. So what does that mean to data seekers and number crunchers?
Here is one method commonly used that can inform buyers and sellers both in today's current market:
Number of homes & condos listed for sale:
Conway, Bartlett, Jackson, Madison, Albany.
Conway, Bartlett, Jackson, Madison, Albany.
Divided By
Number of homes & condos sold in the previous month:
Conway, Bartlett, Jackson, Madison, Albany.
Conway, Bartlett, Jackson, Madison, Albany.
So What Does This Data Tell Us? What Does This Mean?
89 Listings / 29 Sales = 3.86 months of inventory. The art is how to interpret this data so we are right on the cusp of a balanced and seller's market. And the golden rule for sellers??? Price a property correctly and it will sell. Data speaks.
Buyer's Market: More than 6 months of inventory indicates a buyer's market, where there are more homes for sale than buyers.
Seller's Market: Less than 5 months of inventory suggests a seller's market, where demand exceeds supply.
Balanced Market: 4-6 months of inventory suggests a balanced market, where supply and demand are relatively equal.
Happy shopping & selling and I'm here to help --
Ryan
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