The spring and summer selling season is winding down in the Union County NC real estate market. It’s time to assess whether the market has improved for home sellers in 2012 or whether buyers are still dominating the real estate market.
Buyers Market and Sellers Market Defined
What is a buyers market? A sellers market? Real estate markets are typically defined by the number of months of homes available for purchase.
- Sellers Market Fewer than 5 months of supply
- Balanced Market 5 to 7 months of supply
- Buyers Market More than 7 months of supply
Determining how many months of supply are available is called market absorption study.
Union County NC Real Estate Market Absorption Study
Analysis of the Union County real estate market over the past 12 months revealed that whether it’s a buyers market or a sellers market depends on the price range of the homes. The table below shows the months of supply for four different price ranges.
| Price Range | Months of Supply |
| <$200,000 | 5.5 |
| $201,000-$500,000 | 7.4 |
| $501,000-$750,000 | 5.8 |
| >$751,000 | 11.7 |
Source: Carolina Multiple Listing Service
The numbers show a market balanced between buyers and sellers in every price point except above $751,000. Buyers have the upper hand in the luxury market where there is nearly a year’s worth of inventory.
Click here to see the market absorption rate in Union County for one, three, six and twelve months in each price point.
Considering selling your Union County NC home? Request a free online comparative market analysis.
Copyright 2012. Carol Fox. Allen Tate Realtors. *Buyers Market or Sellers Market in Union County NC?*
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