The most common question I get is: "Is it a buyer’s or a seller’s market?" Right now, the answer is surprisingly simple: It’s balanced.
Real estate pros use a specific formula to determine market health:
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Seller’s Market: Less than 5 months of inventory.
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Balanced Market: 5 to 7 months of inventory.
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Buyer’s Market: More than 7 months of inventory.
Currently, we have 56 properties on the market and about 9 sales per month. That gives us roughly 6 months of inventory, landing us right in the "sweet spot" of a balanced market. This is great news for both parties, sellers are still getting fair value, and buyers aren't being forced into the "bidding war" frenzy of years past.
