It's a Sellers' Market in Sharon MA
You may have heard the terms "Sellers' Market" or "Buyers' Market". We look at how long it will take to sell the current inventory of homes if no new listings come on the market and market conditions do not change. This is also called "Absorption Rate".
Here's how we calculate Absorption rate.
First, we determine the rate at which homes are selling in a specific time period. For example, between November 1, 2012 and January 31, 2013 (92 days) there were 51 single family homes sold in Sharon that were listed in the Multiple Listing Service. Divide 92 51 to get the rate at which homes sold in this period. 92 51=1.8 That means that fewer than 2 homes are selling every day in Sharon MA.
Second, we take the number of "Active" homes for sale, which at the end of January 2013 was 41 homes listed for sale, and multiply that by the rate at which homes are selling. 41 x 1.8 = 73.8 days. Now, convert this number to months: 73.8 30 days per month = 2.46 months. We can round up to 2.5 and say that the absorption rate in Sharon MA is 2.5 months.
A balanced market is when the absorption rate is typically between 5-7 months. Anything below that is considered a "Sellers' Market" and above that, a "Buyers' Market". It's a Sellers' Market in Sharon MA right now because we only have 2.5 months of inventory.
In a Sellers' Market, there is less inventory and more demand. As we head into the Spring market, this is an excellent time for Sellers to list their homes for sale. Buyers are eagerly looking to buy in Sharon MA. This means there will be competition for homes that are priced properly and in good condition.
If you want to sell your home in Sharon MA and would like to know the market value, call me for a Free Market Analysis. With my marketing plan and proper pricing I can get your home sold! It's a sellers' market in Sharon MA...what a great time to list your home for sale!
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