Friday, June 01, 2018 / by Bernie Christian
HEY LAKE COUNTRY ESTATES SELLERS AND BUYERS - ITS OFFICIALLY
A NEUTRAL REAL ESTATE MARKET MARKET
We have helped a lot of buyers and sellers in the Eagle Mountain Lake community in the last 14 years and we've cycled through several different types of marketing over that time. Most people have heard the terms, "Buyers Market" or "Seller's Market" but is there any such thing as a neutral real estate market?
Here we are on June 1st, 2018 and so we ask ourselves...what are the market conditions in the local real estate market in Lake Country Estates? By looking at the bar graph below, we can see that May of 2017 and May of 2018 both had 4.9 months of housing inventory. Neutral markets are defined as having between 3 to 6 months of housing inventory so we can then say that Lake Country Estates is in a neutral market. In contrast, A seller's market has an inventory of less than 3 months and a buyer's market would be greater than 6 months of inventory.
You might ask, okay...if my home is up for sale and if I live in Lake Country Estates, what does this really mean to me. It means that if you live in Lake Country Estates and are thinking about selling your home, the first thing to understand is that there is sufficient inventory to balance our the local real estate market such that it favors neither the buyer or the seller. Essentially, negotiations will not be slanted in the seller's favor as it was in the not so long ago past. One thing to note though. The market has been moving in and out of neutral between neutral and a seller's market. If you sell your home this summer, you're less likely to get top dollar since there is more competition due to the greater number of houses for sale in Lake Country. If you sell this fall, you may get a higher price at that time than if you put it on the market now.
If you would like to know more about the real estate market conditions in Lake Country Estates, please give us a call at 817-269-1660.