The first half of 2016 is under our belts and the real estate market is much different than it was at this time last year. Let’s take a look at how it compares to our 2015 market.
Our market quickly transformed from a “Buyer’s market” to “Seller’s market”.
What exactly does it mean when real estate experts talk about months of inventory?
Months of inventory reflects an estimate of the amount of time it would take to sell all of the current listings in a given area if no new listings became available.
How do months of inventory impact real estate clients?
- When there are 0-4 months of inventory, figuring that all current listings can expect to be sold within 4 months, it is considered a seller’s market. Homes are selling very quickly. In a seller’s market, sellers hold the advantage because demand for property exceeds supply.
- If there are 5-8 months of inventory, it is considered a balanced market. Current listings aren’t selling like hotcakes, but they’re moving at a consistent steady pace.
- If there are 9 or more months of inventory, it is considered a buyer’s market because houses are moving slowly. In a buyer’s market, buyers have the advantage over sellers because the supply of listings exceeds the current demand for housing.
These timelines are approximate, but is generally accepted that less than 6 months of inventory reflects good conditions for sellers whereas greater than 6 months of inventory represents positive conditions for buyers.
In June our market began to balance out, with inventory increasing and sales slightly slowing. Currently we’re experiencing a very strong market.
Conditions are favorable if you’re considering making a move, why wait? Give me a call to discuss any & all of your real estate needs.
I am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.
Certified Residential Specialist | Real
Mountain Valley Real Estate