Buyer or Seller's Market - How do you know?
Friday Oct 12th, 2018
"What's the market like in Georgina?"
That might be the most frequently asked question we get as Realtors, and we can usually tell you, to a certain degree of accuracy.
When TREB reports their market statistics at the beginning of each month, we are given past sales and active listing stats to show what the market was like in the 30 day period before. While we understand things can change quickly, we are given clues to report on what is going on.
One of these is the sales-to-active listings ratio as an indicator of market balance.
A balanced market is a term used to describe whether or not supply is meeting demand in the real estate housing market. If a region’s housing market is balanced it means that there is enough demand from buyers to equal the supply from sellers. Make sense?
In a buyer's market, the sales-to-active listings ratio is below 12%
In a balanced market, the sales-to-active listings ratio is between 12% and 20%.
In a seller's market, the sales-to-active listings ratio is greater than 20%.
If you are thinking of selling your home and are wondering if now is a good time, the statistics indicate that it is.
If you have any questions? Or would like a FREE HOME EVALUATION please contact us!
We've been moving families in the area since 1982 and would be happy to help you too!
Wayne Winch, Sales Representative
Brenda Brouwer, Sales Representative
Re/Max All-Stars Realty Inc, Brokerage