Are we in a buyers market?

Question

Russell Brazil · Answer

You might want to say what market you are looking at specifically so someone involved with that market might be able to chime in.

In the entire Mid-Atlantic Market we are still firmly in a sellers market at 3 months of inventory, which is even low compared to the 5 year average of 4.1 months of inventory. For those who may not know, 6 months of supply is generally what is considered an even market between buyers and sellers. 1 month of inventory is how long it would take all existing properties on the market to sell, or be absorbed at current conditions if no new inventory were to come to market.

Jeff Copeland · Answer

The answer can vary from market to market.

Most of the country remains in a pretty strong seller's market. However, in many areas there is a somewhat normal seasonal cooling of the market (late summer, back to school, holidays, etc).

And just because asking prices are being reduced, does not mean sold prices are not still increasing, though perhaps at a slower pace.

Slow, sustained growth is not necessarily a bad thing (in fact, it's sort of the goal!).

Sam Shueh · Answer

Sellers are adjusting their price to get customers. Some like to list very low, then raise the price after getting buyers attention. Our area sold to list ratio was 115-125% early this year, now it is like 105-110%. Sellers still got more offers than they know what to do. Can only sell to one owner.

Account Closed · Answer

In my local market, Las Vegas, it is cooling down a little bit due the the inventory has jumped from 1 month supply earlier this year to 2 month supply today.

But 2 months supply still is a strong seller market in Las Vegas, we are not in a buyer market yet...

Danny Webber · Answer

I think we are entering the off season, higher rates, over valued properties in many markets, unrealistic buyers/sellers +

Lots of reasons for a possible slowdown but it it usually location specific.

Corin Prendiville · Answer

After just selling our house in Seattle i can attest that some coastal markets are cooling, but its still a sellers market at the moment. We chose to list low and hope for bidding wars that were common earlier in the year, we ended up selling for list in a week and felt disappointed but after watching the market many other properties in our neighborhood listed higher are stagnating on the market or having price drops.

Of course we are now exiting summer and things will hibernate for a bit until next Spring, i think that will be the first indication if we are heading for a buyers market or if this is just the markets stabilizing.

As always i agree things are local. We are now in New York selling properties here so that will be an experience.

Aaron Poling · Answer

I agree with Russell. I always use inventory as my guide, 1-3 months being a strong sellers market, 4-6 is average, and anything over 6 is a buyers market.

In my local area I am still seeing a sellers market but we have had an influx of new listings, new construction production has caught up with demand and the market is slowing headed into the school year and holidays. This will cause the market to slow down and prices to drop.

Real Estate is mostly local so every market can be different. Hope this helps a little!

David Wright · Answer

It all depends on the specific area and location and sometimes even the zip code to determine if its a seller or buyers market. Many markets are different.

Are we in a buyers market?

Are we in a buyers market?

Most Popular Reply

10 Replies