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Strong Sellers Market In Many Parts Of CNY
It has been a long time since I have seen such a strong seller's market in CNY. As Realtors, we measure the marketplace by months supply of inventory, or the Absorption Rate. That is how many months would it take, at the current rate of sales, for all the inventory to be absorbed (sold).
Five to 6 months is referred to as a balanced market. Less than 5 is a seller's market- more than 6 is a buyer's market. For more information about Absorption Rate click on this link.
According to Central NY Information Services (CNYIS), more commonly known as the multiple listing services, we are looking at a 3.7 months supply of inventory in CNY.
The long and short of it- if you are thinking about selling your home, NOW would be a great time.