Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 2/22/2015

If you listen to the media you will never know which way is up when it comes to the state of the real estate market. It's not just the market that determines how a house will sell but also location, price, and condition of the home. Like they say real estate is local. Just like you wouldn't expect the weather to be the same in one place vs. another - the same is true about the real estate market. There are a few things you can look at to determine the type of market in your area. 1. Contact a real estate professional. 2. If you are a seller ask for a comparable market analysis on your home. 3. If you are a buyer determine the average number of days on the market in your desired area and price range. 4. Ask your agent what the absorption rate is the market your are looking to buy or sell. Absorption rate is the rate at which homes are selling. Whether you are buying a home or selling it's important to understand the market conditions.