21/01/2023
Are we in a Buyers’ Market? It sure feels like it!
Are we in a buyers’ Market? It sure feels like it.
Coming off of such a frenzied 2022, the housing market has seen a shift from a very aggressive sellers’ market to what feels like a buyers’ market.
But, in reality Bolivar Peninsula’s housing market is a balanced market.
In a sellers’ market the inventory for available houses is low and seller’s can dictate the price. In a sellers market prices will increase, buyers are competing with other buyers in multiple offers leaving the buyers without much negotiating power.
In a buyers market the inventory is high and there are less buyers, buyers have much more negotiating power, you will see prices start to decline and sellers tend to make more concessions for the buyers.
A Balanced Market for Bolivar Peninsula as of today.
The experts say that when we have about a 6 month supply of homes that is considered a balanced market.
What does that mean for buyers and sellers on the Bolivar Peninsula?
Buyers tend to place reasonable offers on homes and sellers tend to accept them.
Homes remain on the market for a moderate amount of time — neither lagging for months nor getting snapped up in mere hours or days.
Home prices remain stable, or grow at a steady pace.
2023 is looking great for home buyers and sellers along the Bolivar Peninsula!
We have seen interest rates start to decline, we have an inventory of homes to choose from and prices for every budget. I don’t think we will have a balanced market for long, in my opinion I think we are trending towards a full buyers market, but that remains to be seen.
Not sure what all this means to you! Reach out to us today, we would be happy to discuss the market and how we can help you with all of your real estate needs!
I am a local Realtor on Bolivar Peninsula! Call me today, for information on how the market affects your real estate!
