This is the time of year when we like to calculate absorption rates in order to understand whether we are trending in the direction of a buyer’s or seller’s market. We compare the pace of sales over the previous 12 months to determine how many Months Supply of Inventory is for sale. Generally, a balanced market would have 7 months of inventory, more would be a buyer’s market and less a seller’s market. At this time last year, there was less than 1 month of inventory for both single family and condo/townhome property types in Bear Trap. We continue to stay under a balanced market due to deficient inventory.
If you would like to discuss the market in more detail, please call our Bear Trap Specialist Gail Phelan (302) 233-4909.
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