A Greater Town : US : NC : Buncombe : Arden : Townzs : Classifieds : Real Estate : Residential Real Estate — Residential Real Estate For Sale

Buyer's Market? Seller's Market? Which is it? Susan Duncan Realtor

Residential Real Estate for Sale

Updated on Apr 11, 2013

Edit post | View more like this | Visit Arden, NC | Contact Exit Realty Vistas
You hear everyone talking about a Buyer's Market or a Seller's Market, but how is this determined?

Well, it is determined by the months of inventory of listings a regional has on the market. There is a formula to determine the months of inventory. You take the total sum of residential listings (or you could make it land listings, but you do need to segregate the residential from the land from the commercial, etc) and you divide by the number of residential homes that were sold in the last 30 days, or prior month. If no other homes are listed in our Multiple Listing Service, based on the number of homes that sold last month, it will take x number of months to sell all of the homes listed in our Multiple Listing Service.

Now that you know how the "months of inventory" is calculated, how do you determine what a "healthy" market is? Nationally and historically a healthy market is 5 to 6 months of inventory.

If the months of inventory is over 6 months, there are many homes for the buyer to choose from. The causes the sellers to lower prices, offer incentives and the buyers take much longer to make a decision on purchasing a home becuase there is so much to choose from. It is like a kid in a candy store trying to make up his mind how he is going to spend his allowance.

If the months of invetory is under 6 months, then the market is "picked over". The buyers are keeping a keen eye on what is in their price range and when a new listing comes on the market that is priced well, it receives many showings the first few days resulting in multiple offers with the buyers instructed to bring their highest and best and it usually drives the contract price up above list price.

In the Asheville and Hendersonville NC area, we have been experiencing a buyers market for quite a few years and in a very short 1st quarter of 2013, we have quickly gone back to a sellers market. Below is a graph of the months of inventory in different price ranges for homes on the market in Buncombe County for the month of February 2013.

So buyers looking to purchase a home in the Western North Carolina area, check out our website at www.ExitAsheville.com. It is a very user friendly website that will allow you to mark listings as your favorite, calculate mortgages, look at aerial maps of the neighborhood and ask your realtor questions, all on the same page! Keep an eye on those listings and when one comes on the market you want to see, act fast before it gets away!

South Asheville Real Estate Expert – Susan S. Duncan, Exit Broker Owner

Your real estate marketing expert for the Asheville, Hendersonville, Fletcher NC areas. Providing the most comprehensive real estate site for all of the Asheville area is our goal! (828)776-8100. Exit Realty Vistas

The Blue Ridge Mountains have been home to me for the last 28 years. I have 20 years of real estate and sales experience in Western North Carolina. Having a heart for customer service and helping people fulfill their goals, like buying or selling a home, is a passion of mine.

*Self-Motivated and put a strong emphasis on customer service to my sellers and buyers.

*Sellers - Specializing in Residential and Land. I don't list properties, I MARKET them! I think "outside of the box" when it comes to marketing to drive as much business as I can to your home. Marketing is what sells your home and this is my "forte". Contact me for a FREE Market Analysis.

*Buyers - I LISTEN to my buyers and help them find their dream home. Much time is spent via internet and email, tweaking search criteria and looking for houses that meet your needs so we are making the best use of our time when we are looking at physical properties. I will work with you through every step of the process - from searching the internet to sitting at the closing table signing papers. I take my job seriously.
goodideazs, LLC is not affiliated with the authors of this post nor is it responsible for its content, the accuracy and authenticity of which should be independently verified.

About | Advertise | Terms | Privacy | Contact A Greater Town

Top Business Listings | Banner Art Gallery | Blog | Seo Site Crawler

Copyright © 2007-2019 goodideazs, LLC. All rights reserved.