Acton Homes are definitely selling!

2013 has been a very busy year for home sellers in Acton.  236 single family homes sold this past year, which is nearly 10% more than sold in 2012.  

Buyers’ market, sellers’ market, and balanced market are real estate terms that are used to define month’s supply of inventory with regard to who has the advantage in a sales transaction.  This number is based on the current number of homes for sale in a given market and the past absorption rate. 

Typically, a seller’s market offers buyers 0-4 month’s supply of inventory.  The seller has the advantage in this situation because there are fewer homes for sale than there are buyers looking for them.  The increased demand with lower inventory levels leads to shorter list time, multiple offers, and, in some cases, homes selling above list price. 

A buyer’s market is the opposite.  There are more homes for sale than there are buyers looking for them.  This decreased demand with higher inventory levels leads to longer list time, fewer and often lower-priced offers, and price reductions.  In this scenario, the buyer has the advantage.  Over 6 months of inventory is considered a buyer’s market.

A balanced market is considered a healthy market with a 4-6 month’s supply of inventory.  Neither the buyer nor the seller is considered to have an advantage over another in a balanced market.