This is one of the top questions I get asked when I am meeting with a potential seller. I always will answer that if a home is priced right and well taken care of it will sell in any market. I am currently going over the Collin County May numbers and the numbers look awesome!
So far there have been 34,953 homes sold through the month of May which compared to the same time last years number of 30,286 homes sold (a 15.4% gain!). The average days on market (the number of days it took to sell a home) are down a 6.4% from 101 days in 2011 to 95 days this year.
The big reason why I am urging seller's to get their homes on the market right now is that currently in all of Collin County there is only a 4.3 months supply of inventory available. The Months Supply of Inventory is a ratio that shows how long it would take to sell the homes that are on the market. Real Estate Analysts consider 6 months of Supply to be a balanced market... when there is a more than 6 months supply then we are considered to be in a buyer's market (this is what we've experienced the past couple of years), and when it is less than 6 months supply it is consider a Seller's Market.
So, from what we are seeing right now the market has shifted from last year being a buyer's market to currently a seller's market in Collin County! So is it a good time to sell your home right now? YES!!!!!!
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