Is it a buyer's market or a seller's market in real estate today?
If we look at the nation as a whole, we have about four and a half months of inventory. What does that mean? It means if every REALTOR stopped taking listings tomorrow, it would take about four and a half months to sell off the current inventory at the current sales pace.
Is that healthy? Is that where we want to be? Generally, a balanced market has about six months of inventory. So being slightly under that means sellers still have a bit more power overall. When a seller prices their home correctly and it's in good condition, they can still get plenty of showings and, in some cases, multiple offers — even in today's market.
This is also why home prices continue to rise, despite higher-than-normal interest rates and an economy that appears to be nearing a recession.
The limited supply keeps pushing prices up.
However, it's crucial to understand that real estate isn't just one giant national market. Real estate, like politics, is local. When someone asks, "Is it a buyer's market or a seller's market?" the answer should always be, "Well, that depends."
It depends on three main factors:
Any of these factors could mean you're dealing with a buyer's market in one area or a seller's market in another. For example, you could have a price category over a million dollars with 16 months of inventory — definitely a buyer's market. Or maybe a certain type of commercial property has already shifted to a buyer's market.
This is why working with a knowledgeable REALTOR is so important, whether you're buying or selling. If you're an agent, it's vital to study your local market closely to understand which segments are favoring buyers and which are favoring sellers.
We can't just give one blanket answer to whether it's a buyer's or a seller's market. We have to dig deeper and consider what type of property someone owns or wants to buy before providing an informed response.
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Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?
+ 32 Years of Real Estate Sales, Management, and Coaching Experience
+ Top 1% REALTOR Himself (he has been in the trenches)
+ Opened his First Real Estate Company at 23
+ Grew his Real Estate Company to 17 Offices (largest in Oregon)
+ His Current Team Closed $1.4 Billion in Sales in One Year
+ He is a Current Real Trends Top 500 Broker
When you work with Jim there is no "team" of coaches - you are being trained by Jim and tapping his knowledge and experience.
When your office or team joins our brokerage coaching platform, every agent at your firm will tap into our training and coaching resources.
These benefits include:
20 Weeks of On-Demand Lead Generation Coaching: Access our extensive coaching program, offering daily guidance for 20 weeks, empowering your agents with proven lead generation strategies.
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At eRealEstateCoach.com, we are committed to helping you and your team thrive. Productive agents become raving fans helping you attract the top talent in the industry.
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