If you need assistance, please call 509-590-4701

What is a Seller's Market?

Friday, November 29, 2019   /   by Heather Schelling

What is a Seller's Market?

If you own a home or have been in the market to buy one, chances are you’ve heard the term ‘Seller’s Market’.

You keep seeing and hearing those two words…Seller’s Market…but what does it actually mean? Is it a Seller’s Market, a Sellers’ Market, or a Sellers Market? All are correct depending on your perspective and essentially mean the same thing: Based on the current demand, if no other homes were to be listed with a Realtor, in X months, all homes would be sold.

It’s currently the last week of November 2019, and we’ve been in a seller’s market for about 4 years. How strong that is has varied. Spokane County is holding steady at 1.3 months of inventory. That is in comparison to a healthy/balanced market of 5-6 months of inventory. Needless to say, its not just a seller’s market but a VERY strong seller’s market.

Wondering if now is the time to sell? In short, yes. The demand is high and buyers are still battling it out. Despite the colder months ahead, buyers’ demands haven’t let up yet. Prices are softening slightly and buyers are taking advantage of the season to win that multiple-offer or better yet, not have to compete at all. Interest rates are still low which means buyers are determined to find a home so they can get settled in before the new year.

As a seller, you may want to find another home in our area. The common thought is there’s nothing to buy! I can’t find anything I like and I don’t want to be without a home. Maybe I won’t sell yet. If you share that sentiment, I suggest waiting until there are 3 months of inventory. That means you’ll still see demand from buyers but the number of available homes for sale will be much larger. Not quite a balanced market but it will still be in your favor as a seller.

Until next time!

Heather Schelling, Realtor®
509-939-3095
heather@havenrealestategroup.com
heather.viewhomesinspokane.com
Heather Profile PIC.jpg


  spokane real estate, selling home, home selling, haven real estate group, spokane realtor, sellers, home value, spokane market, spokane real estate market, spokane wa, selling a house, seller's market, heather schelling

Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201
509-590-4701

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS.
MIMLS The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS® MLS. Real estate listings held by brokerage firms other than Haven Real Estate Group are marked with the IDX logo. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Haven Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Copyright 2019 of the Spokane Association of REALTORS® MLS. All rights reserved.