Real Estate FAQ: Is It Still A Buyer’s Market?
I get a lot of inquiries from Houston County GA home buyers and sellers asking “Is it still a buyer’s market?”. The quick answer is YES, but to better understand HOW and WHY an explanation is always necessary.
Typically a balanced market has 5-7 months of available inventory, a sellers market 5 or less months, and a buyers market at 7 months+. To determine the absorption rate (how long it will take to sell off the existing inventory) my method is simple: Divide the number of active listings by the average number of sales during the last 12 months (other timeframes can be used to determine trends).
For instance, in Houston County GA there are currently 836 homes available and over the past 12 months homes have sold at the rate of 86 per month (836 / 86) which computes to 9.72 months of available inventory. If conditions remain the same it will take nearly 10 months to sell all the available properties in Houston County GA.
So, what does this mean for my local buyers and sellers? It means when there are more homes on the market than there are buyers looking, homes will typically stay on the market longer and buyers will offer less. This usually drives seller behavior to either lower the price or make other allowances to lure buyers into purchasing their property.
Providing consumers with real estate information they can use to make informed decisions is one of the many reasons to employ the services of a well qualified Houston County GA Real Estate Professional!
As always, Houston County GA real estate information is brought to you as a courtesy by Anita Clark, your Warner Robins Real Estate Consultant.
When you’re ready to sell a home in Warner Robins or anywhere in Houston County Georgia, call me at (478) 960-8055.