Due to a Lack of Inventory, It’s a Seller’s Market Again!



What is “Inventory” when talking Real Estate?:    We refer to the quantity and type of properties for sale as the “Inventory”. 
What is a “Seller’s Market”?:    Whenever we have significantly more qualified buyer’s for the quantity of available properties for sale,  we have a “Seller’s Market” (demand outpacing supply).  What this means for sellers is faster sales, higher prices, less concessions and better contractual terms.
What is a “Buyer’s Market”?:    The opposite of a seller’s market,  the amount of available properties for sale are significantly greater than the quantity of qualified buyer’s (supply outpacing demand).  In a buyer’s market it takes longer to sell,  there is downward pressure on prices and seller’s must offer more concessions to potential buyers.
Things that effect the Real Estate Market:   Seasons:  more properties are typically available (more sellers) during spring and summer and when local schools are not in session.  Interest rates:  lower rates means more buyers and buyer’s can afford to purchase at higher prices.  Economic conditions:  more people working and making more income means more “qualified” buyers.  Location:  more desirable locations have more activety than less desirable areas.  Business activety in the area:  more jobs and shorter commutes mean more buyer demand.  Prices/Taxes:  Reduce buyer demand when up and increase buyer interest when low (or in areas that are lower).  County attitude and policies toward growth.
This site is meant to be a valuable resource to anyone considering selling and/or buying.  The content is consistently added to based on interest, questions and requests.  Please call or shoot me an email if you have a question or would like more information on a topic.  Thank You,   Jeff Vanskike