A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Buyers or Sellers Market?
I was reading an interesting article today where Trulia was
trying to figure out if we were heading into a buyer’s market. I thought the
most valid point in the article was that whether we were in a buyers or sellers
market was locally driven. What they did to decide the type of market we were
in was to look at how long homes were staying on the market. They looked at
June 17 to August 17 and found that 63% of those homes were still on the market
and that was up a bit from 61% last year. Here is a chart that shows homes on the market after 2 months by price tier.
There should be no surprise that the higher the price, the longer that home will be on the market.
This next chart is much more to the point. It shows how local markets will decide whether there is a sellers or buyers market.
In these 10 markets, there is still a sellers market going on. I am in Orange County California which is #9 on the list and I know that if you have a home on the market, it will sell quickly unless the price is way out of line.
My theory is, to look at how many open houses are going on every weekend and if you don't see too many, you are in a sellers market.
A.D. Cantelmo Property
Management Specializes in Property Management in Orange County