Are We in a Buyer's or Seller's Market?

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Hey everyone, today we are going to be discussing the North Central Washington real estate market and whether we are in a buyer's or seller's market. The way to find out if we are in a buyer's or seller's market is by looking at the price range, the inventory, and the absorption rate.

A balanced market is when we have about 6 months of inventory. Any more than that puts us in a buyer's market, and any less than that puts us in a seller's market. 

Right now in North Central Washington, the tipping point is right around $400,000. For homes listed in the $400,000-$500,000 range, we are in a balanced market. For homes listed under $400,000 we are in a great seller's market. In the $200,000-$250,000 range, we only have 1.2 months of inventory!

Above $500,000 we are in a buyer's market. We have 7-9 months of inventory available, depending on your price range.

If your home is in that $400,000 or below range and you are looking to make a move into a bigger and better home, conditions are ideal. You can sell your home for a great price in a seller's market, then buy a new home at a discount in a buyer's market.

If you have any questions for us, or are looking to buy or sell in North Central Washington, give us a call or send us an email. Talk to you soon!