By Living Room Realty, October 9, 2019
September 2019 is a Neutral market*
Here’s what I have to say…
The numbers say it is a “neutral” market and no longer a seller’s market. My experience is saying that it is not any different than it has been for the past 4 or 5 months – a more balanced market that may fluctuate between being neutral and slightly leaning in the seller’s favor. What does this mean for you? Negotiation is back in force. Buyers are paying market value for homes (good for sellers) but sellers also need to make sure their home for sale is in its absolute best presentation state and priced correctly (good for buyers).
If you’re a seller wondering what that price range is for your home, let me know and I will send you data, not zata. That’s an estimate as opposed to a zestimate. For buyers it means that you have room to ask for some repairs and, with your agent, find a win-win solution to issues that come up during a transaction, not just feel obligated to accept a sinkhole or that the house is built on a 👻 haunted ancient burial ground (Carol Anne!) like the old days. Indeed, we have compromise happening and it’s a better and more sustainable market for everyone.
Home For Sale in September 2019: 2866 units.
• Up 0.1% compared to last month
• Down 8.8% compared to last year
Home Closed in September 2019: 884 units.
• Down 21.1% compared to last month
• Down 3.6% compared to last year
Home Placed under Contract in September 2019: 1097 units.
• Up 6.5% compared to last month
• Up 21.9% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
CLICK HERE FOR THE FULL REPORT!
