Buyers market or sellers market in Union County NC? In a previous post, we looked at the market absorption rate for Union County and concluded that the real estate market for the county as a whole has been a buyers market for the past year. Click here to read more about Union County's market absorption rate.
With many parts of the country reporting that sellers markets have returned, we should ask whether sellers' fortunes have improved in any segments of the Union County real estate market. Let's look at various price points within the market to see if we can find any part of the market favorable to sellers.
Remember that a sellers market is defined as fewer than 5 months of supply, a balanced market as 5 to 7 months of supply and a buyers market as over 7 months of supply. Union County's supply of inventory has been a 8 months for the past year.
Analyzing the numbers for various price points we find the following:
- Under $200,000 Balanced market of 5 to 6 months
- $201,000 to $500,000 Buyers market of 9 to 10 months
- $501,000 to $750,000 Buyers market of 15 to 23 months
- Over $750,000 Buyers market of 10 to 14 months
If you are a Union County NC home seller with a home under $200,000, you are in a fairly good position with a balanced market. For other sellers in the county, buyers still have a stronger position.
Click here to see all the numbers for the various price points within the Union County NC real estate market.
Want to know more about buying and selling real estate in Union County NC? Visit www.CarolinaSmallTownLiving.com.
Copyright 2012. Carol Fox. Allen Tate Realtors. *Some Union County NC Sellers Find Real Estate Market Improving*
Comments(0)