Here’s why buyers and sellers need to stay updated on their market area’s inventory level.

Typically, in a seller’s market like ours, there are more buyers in the market than there are available homes. However, that doesn’t mean that every single home is going to fly off the shelf; homes still have to be desirable to individual buyers to be saleable. When it’s a buyer’s market, on the other hand, inventory levels are higher than buyer demand, and there is often more than six months’ supply available. 

Think back to the last market crash. There was a lot more inventory than there were buyers, and what impact did that have? Home prices slowly dropped until buyers woke up and acted on the low prices.

Whether you’re buying or selling, you need to stay current with the inventory levels in your market area.

So what does this all mean for you?

If you’re a seller with a home under $400,000, this could be a really good time to sell. See, inventories are very low and buyer demand is very strong. If you’re selling in a higher price range, the market is still solid, though maybe not quite as strong as in lower price ranges. There is more available inventory in those upper price ranges as well. Sellers need to work with an agent who can be creative with their marketing strategies to draw more buyers to your door. 

Now, if you’re a buyer, this could also be a great time to buy, despite the fact that inventory is low. Work with a competent real estate team that can increase your options and get you the best possible deal.

The bottom line: Whether you’re buying or selling, you need to stay current with the inventory levels in your market area. If you need us to help you find that information or if you have any other questions, we’d be more than happy to help you. Just reach out and give us a call or send us an email! Remember: It’s not the market—it’s the marketing that makes all the difference.