As a real estate agent I often hear the question: "How's the market?" I think what the person asking wants to know when asking this question is if their home value is increasing.
A good way to answer would be to tell the person whether the current market is a buyer's market, normal market or seller's market.
The following graph shows the difference:
Most MLS programs can help agents learn how many months of inventory are available.
The months of inventory is the amount of time it would take to sell all the current property if no new property was to come available.
The Williamburg area is currently in a buyer's market for houses priced over $700,000.
Houses priced up to $350,000 are definitely a seller's market.
Comments (5)Subscribe to CommentsComment