Continuation of a Seller’s Market in Bayside
Posted by Leslie Kopp on
During this time of the year, 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 while more would be a buyer’s market and less a seller’s market. At this time, both single family and condo/townhome property types in Bayside continues to be well under a balanced market, staying in a seller’s market due to good buyer activity. While condo/townhome inventory is growing, it remains a seller’s market for all property types in Bayside!
If you would like to discuss the market in more detail…
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