A frequently asked question: What defines a buyers or sellers market?  The math is straight forward, actually. For any given month, we divide  the number active homes on the market in town  (251 )   by the number of homes that that went under contract  one month (13), giving us 19 month’s supply. The market is considered “in balance”  at 6-8 month’s supply; Lower than that is a seller’s market (lots of buyers and few active homes); above that range is a buyer’ s market, meaning relatively few buyers and lots of homes available to buy.  OK, so, we are clearly  in a buyer’s market. What to do as a seller? Knowing the competition is fierce, make sure all the little things are done: freshen up paint, de-clutter, put your best foot forward.  I can meet with you, review your home, and make suggstions to help get your home sold.   This market is extremely price sensitive, so, let’s study the competition and price accordingly. The good news: several recent listings were on the market a short time. If we price to the market, the buyers will come.

Speaking of active homes on the market, where is “the problem” with unsold homes here in town? There is a belief that we have way too many homes above $1 Million on the market.    The real news: The largest number of homes avilable is in the $250-499,000 price range. Next is in the $500-749,000 range. We do have over 40 available above a Million, but there are lots available in every price range. With mortgage monney under 4% available, this a sensational time to buy!