Is this SELLERS Market Cooling Off with the Cooler Autumn Weather?
September 218 Market Snapshot
Greetings EVERYONE! Well, here we are about to head full-strength into the holiday season and with that, truly the best parts of the year. From more time with your family to outstanding meals, Pumpkin Pie, Pumpkin Spice Latte’s (had to throw that in), holiday decorations, lights and so many, many more wonderful things.. Linda and I just can’t wait!
We’re also loving this cooler weather. You can sleep with the window open and the temperatures are just right. Are things just right with the real estate market though? Linda and I here at The MITCHELL Team sell around 50 houses a year on average which is more than enough to start to notice the subtly of change. And, supply and demand is a great barometer (if you will) to notice a possible change.
Now they say (the real estate experts) a healthy market has an inventory of approximately 3 to 4 months worth of homes on the market. As you know, we’ve been tracking in the low 1 month’s worth of supply for the past several years now and its made the perfect recipe for a STRONG sellers market.
However, year over year for September, we’ve had a 32% increase in inventory. It is perfectly normal for things to slow down this time of year and inventory typically does increase but that wasn’t the case in 2017 really. It still stayed under two months.
This is good news though; in fact, great news if you’re in the market to buy a house. Only time will tell if we’re headed into more of a balanced market to even maybe a buyers market but that will be further revealed as we head deeper into the winter months and ultimately the spring months of 2019.
AS of right now though, we are still solidly in a sellers market. AND over the last two years, the fall months have been our busiest months of the year with both listings and new buyers. So with all that being said, give us a call here at Green Fin Realty if you have any questions about the market in general.
Also, if you’re wondering about the actual value of your home and not just want the Zestimate says, reach out to us here: GreenFinRealty.com/HomeValue.
Download the one page September Market Snapshot… You know you want to. >>>
Have a GREAT October (what’s left). We’ll see you next month for the NEXT Market Snapshot.