Today I’m here to answer the question, “Is it a good time to sell?”
The answer to this question depends on a few different factors. The first one is why you’re thinking of selling. Do you need more space for your growing family? In that case, you’re probably going to move regardless of where the market’s at.
The second factor is the market itself. Is it a buyer’s market, seller’s market, or a balanced market? To find out, we look at the sales ratio. It’s the number of sales divided by the number of active listings in the given month. Let’s say there were 100 active listings and 20 listings sell. That’s a sales ratio of 20%. Any sales ratio below 15% is a buyer’s market, 15% to 21% is a balanced market, and 21% and above indicates a seller’s market.
I hope this gives you a better idea of what the market is and how it works. If you have any questions or you're just curious about the value of your home, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.
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