The Real Estate Market David Mills
When people say it’s a seller's or buyer's market, what does that really mean? In real estate, the housing market is gauged by “months of supply.” Months of supply tells you how many months it would take for all the current homes to sell on the market. As you would imagine – with greater demand and less supply, the market tips in a seller's favor. Generally, a healthy real estate market for both buyers and sellers will have about 6 months supply. So, if the number of homes for sale in the area falls below this supply, the market generally tends to benefit the seller. If the market favors the seller, this could potentially help you sell faster or get more money for your home. So, how can you determine if it’s a good time to sell? The research and math required to determine the number of months of inventory of homes that are available on the market is complex. So, to save time, I would recommend reaching out to an experienced real estate professional who can inform you of the current market conditions and keep you updated on market changes. Let me know if that helped.
By the way, we are in a Seller’s Market.
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David lives, works, and plays in Lakewood Ranch, and he can be trusted to assist you and your referrals with your real estate needs. Contact him today!