Posted On: December 26th, 2017 8:55PM
Nationally we are in a "seller's market." Generally we are also in a "seller's market" locally!
How can we tell? We look at the number of currently active home listings and compare that with the number of listings that sold in the past 6 months.
If the list of active listings is smaller, then we are in a "seller's market." It is good for a seller in that there will be more buyers competing to buy their home.
If the list of active listings is longer than the list of solds for the past 6 monthes, then we would be in a "buyer's market," where buyers have many choices of homes to choose from.
If the number of active listings and sold listing are the same, we are in a "balanced market."
Determining seller's or buyer's market is part of the analysis done prior to listing a home. I will research the market for you and we will discuss it prior to setting a list price for your home and planning a marketing strategy.