March 2023 Market Update
Our Market Momentum Meter indicates that Buyers should be calling the shots now. But interestingly, our clients, colleagues, and our team doesn’t see it this way yet. Most Buyers feel the current inventory lacks in quality and is not presenting a wide selection of properties to choose from.
In most cases, Sellers have not accepted that the value of their property based on early 2022 data is not the value of their property now. However, we have successfully found properties at fair adjusted prices based on a high level of market research, and presenting offers accompanied by our market evaluations.
Seller’s market = four months of inventory or less
Balanced market = four to six months of inventory
Buyer’s market = six months or more of inventory
If 100 active listings are available in a month, and 20 homes sold in the that
same month, then there is approximately 5 months of inventory.
